PLAINTIFFS EXPAND CLASS ACTION SUIT ALLEGING ILLEGAL ELITE UNIVERSITY CONSPIRACY TO REDUCE FINANCIAL AID – QNT Press Release

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CHICAGO, Feb. 16, 2022 /PRNewswire/ — The students and families who recently filed the antitrust class action lawsuit against 16 of the country’s most elite, private universities—for price fixing and reducing financial aid to needy students for almost 20 years—have expanded their allegations in an amended complaint.

The amended complaint first adds Johns Hopkins University as a defendant. In 2021, Johns Hopkins joined the 568 Presidents Group, also known as the “568 Cartel.” The amended complaint alleges that, in joining the Cartel, Johns Hopkins adopted the use of a “Consensus Methodology” (CM) for determining financial aid, which is a central component of the alleged scheme that has artificially reduced the amounts of financial aid the universities awarded to their students. The students and families allege that the conspiracy among the 17 defendants effectively raised the net price of attendance, harming in the aggregate more than 200,000 students from …

Full story available on Benzinga.com

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