LOS ANGELES—Caltech is among 16 universities being sued for alleged violations of antitrust laws by colluding to unfairly reduce the amount of financial aid awarded to students, it was announced Jan 10.
The proposed class-action lawsuit, filed Sunday in Illinois federal court on behalf of five former students who attended some of the universities, alleges the schools participated in a price-fixing scheme involving the formula by which financial-aid awards for students are calculated.
