U. Chicago First to Settle Financial Aid Price-Fixing Claims in U.S. Court

The University of Chicago will become the first school among 17 prominent colleges to settle claims that they conspired for many years to restrict financial aid and overcharged students by billions of dollars in violation of U.S. antitrust law. The preliminary settlement between the private liberal arts university and the plaintiffs was disclosed on Wednesday night in a court filing, and it was the first pact in the lawsuit since it was filed in the U.S. District Court for the Northern District of Illinois last year. The terms of the proposed deal were not immediately publicly disclosed.