Caltech Financial Aid Antitrust Settlement Is Approved (Correct)

California Institute of Technology will officially pay $16.8 million to resolve claims it reduced financial aid packages and steered admissions toward wealthy students, the latest in a series of elite colleges to settle in the high-stakes case.

Judge Matthew F. Kennelly of the US District Court for the Northern District of Illinois in a June 27 order called the deal between Caltech and student plaintiffs an “exceptional result,” confirming final approval that he first granted from the bench June 23.

Kennelly also approved class counsel attorney fees of roughly $5.6 million, representing one-third of the deal amount.

Defendant schools including ...