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upstart [soylentnews.org] writes:

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This could have legs

16 top colleges sued for alleged violation of federal antitrust laws by colluding on their financial-aid practices [cnn.com]:

16 top colleges sued for alleged violation of federal antitrust laws by colluding on their financial-aid practices

The complaint, which was filed Sunday, alleges that these private national universities have "participated in a price-fixing cartel that is designed to reduce or eliminate financial aid as a locus of competition, and that in fact has artificially inflated the net price of attendance for students receiving financial aid."

The suit is asking for class-action status to cover any US citizen or permanent resident who paid tuition, room, or board at these institutions within varying timeframes from 2003 to the present. The plaintiffs want a permanent injunction against this alleged conspiracy, and that they are also seeking restitution and damages to be determined in court.

Original Submission