College Board, Universities Escape Financial Aid Conspiracy Suit

The College Board and dozens of private universities including Harvard, Penn, and Yale prevailed over a proposed class action accusing them of a scheme tied to financial aid after a federal judge ruled the plaintiffs failed to allege a conspiracy.

“The Court finds Plaintiffs’ allegations of an agreement conclusory and lacking in plausibility,” Judge Sara L. Ellis of the US District Court for the Northern District of Illinois said in an opinion filed Wednesday. “Plaintiffs talk about ‘concerted action’ and ‘collective effort’ without providing details to flesh out these conclusory descriptions.”

Student plaintiffs last year sued the College Board and ...