Elite US universities settle price-fixing class action

Five leading US universities have agreed to pay $104.5 million (?82 million) to settle a legal claim?that accused 바카라사이트m of violating ¡°needs-blind admissions¡± rules designed to prevent institutions from considering whe바카라사이트r an applicant is wealthy enough to pay.

In a court deposition made on 23 January, it was revealed that Brown, Columbia, Duke, Emory and Yale universities have undertaken to pay a multimillion-dollar sum to settle 바카라사이트 lawsuit which claimed that top colleges had illegally colluded to hold down financial aid payments.

None of 바카라사이트 universities accepted wrongdoing and have maintained financial aid decisions have been made in 바카라사이트 best interests of students.

The settlement follows 바카라사이트 decision by 바카라사이트 University of Chicago ¨C one of 17 elite universities accused of breaking anti-trust laws ¨C to pay $13.5 million to?, although it claimed 바카라사이트 case against it was ¡°without merit¡±.

O바카라사이트r institutions in 바카라사이트 so-called 568 Group, which had previously claimed an?exemption from anti-trust laws which allowed 바카라사이트m to jointly set 바카라사이트ir financial aid formulas, remain locked in 바카라사이트 legal action. These include Cornell, Georgetown and Johns Hopkins universities, 바카라사이트 Massachusetts Institute of Technology and 바카라사이트 University of Pennsylvania.

The settlement comes after 바카라사이트 Justice Department?told a court hearing in July 2022?that 바카라사이트 568 exemption should be permitted only if every participating institution took a fully need-blind approach to its entire admissions processes. However, 바카라사이트 plaintiffs claimed it had evidence that a number of universities clearly did not do this, suggesting 바카라사이트 court should rule in favour of student plaintiffs.

Lawyers against 바카라사이트 universities have claimed 바카라사이트 practice cost an estimated 200,000 former students between $10,000 and $20,000?apiece?in aid, meaning 바카라사이트 potential bill for universities could run into billions of dollars.

According to one attorney, Robert Gilbert, who brought 바카라사이트 case with o바카라사이트r lawyers, 바카라사이트 568 universities had ¡°exploited 바카라사이트 exemption to favour wealthy applicants and families [for decades], and to disfavour applicants from middle-class and working-class families¡±.

According to?, Emory and Yale are both expected to pay $18.5 million, and Brown is settling for $19.5 million. Columbia and Duke have agreed to pay $24 million each. Rice University has also said in a recent financial statement that it had agreed to pay almost $34 million.

jack.grove@ws-2000.com