Settlement Administrator Angeion Group Announces Final Approval of Settlements with California Institute of Technology and the Johns Hopkins University in Henry, et al. v. Brown University, et al. Class Action

If You Were Enrolled in a Full-Time Undergraduate Program and You Received Financial Aid at Any Time Between 2003 and 2024,
a Class Action Settlement Totaling $35.25 Million May Affect Your Legal Rights.

A federal court authorized this notice. This is not a solicitation from a lawyer.

PHILADELPHIA, Sept. 29, 2025 /PRNewswire/ -- A federal court granted final approval of settlements ("Settlements") with California Institute of Technology ("Caltech") and the Johns Hopkins University ("Johns Hopkins"). The Court has also certified for settlement purposes only a Settlement Class of students who attended the following seventeen schools (during certain time periods set forth below): Brown University, Caltech, University of Chicago, Columbia University, Cornell University, Dartmouth College, Duke University, Emory University, Georgetown University, Johns Hopkins, Massachusetts Institute of Technology, Northwestern University, University of Notre Dame, University of Pennsylvania, William Marsh Rice University, Vanderbilt University, and Yale University (the "Defendants," or "Universities," or "Defendant Universities"). As part of the Settlements, Caltech has agreed to pay $16,750,000 and Johns Hopkins has agreed to pay $18,500,000. In addition, Johns Hopkins agreed to complete certain discovery in this antitrust class action lawsuit, called Henry, et al. v. Brown University, et al., Case No. 1:22-cv-00125, which is pending in the United States District Court for the Northern District of Illinois (the "Action").

The Action was brought by certain students who attended the Universities while receiving partial need-based financial aid. The Action alleges that the Universities conspired in violation of the federal antitrust laws regarding principles, formulas, and methods for determining financial aid. The Action also alleges that as a result, the Universities provided less financial aid than they would have provided had there been full and fair competition. The Universities have alleged that Plaintiffs' claims lack merit; that the Universities' financial aid policies were legal and pro-competitive; that financial aid awards were not artificially reduced; that the Universities have valid defenses to Plaintiffs' allegations; and that Plaintiffs' claims would have been rejected prior to trial, at trial, or on appeal.

What does the Settlement provide?
Caltech and Johns Hopkins have agreed to provide, collectively, $35.25 million in cash for the benefit of the Settlement Class as a part of a Settlement Fund. The Caltech and Johns Hopkins Settlements are in addition to the $284 million in settlements approved by the Court by Order dated July 20, 2024.

Every member of the Settlement Class who (a) did not timely exclude him, her, or themselves from the Settlement Class by the April 9, 2025 deadline and (b) files a valid and timely claim postmarked or submitted online by December 27, 2025 will be paid monies from the Settlement Fund. The money in this Settlement Fund will also be used to pay the following, as approved by the Court:

• The cost of settlement administration and notice, applicable taxes on the Settlement Fund, and any other related tax expenses, as approved by the Court;
• Money awards for the Settlement Class Representatives for their service on behalf of the Settlement Class, as approved by the Court, and
• Attorneys' fees and reimbursement of expenses for Settlement Class Counsel, as approved by the Court.

Payments for claims will vary depending on a number of factors, including the net price of the university attended at the time of attendance and the number of claims filed. Assuming that about half of the estimated 200,000 Class members submit timely claims, the average claimant will receive about $250 from these Settlements.

In addition, under the Settlement, the Universities have agreed to provide Plaintiffs with access to certain additional discovery as detailed in the Settlement Agreements.

For more information about the Settlement Agreements, please visit www.FinancialAidAntitrustSettlement.com.

Am I eligible to receive a payment from the Settlements?
You may be eligible to receive a payment if you are a U.S. citizen or permanent resident who has during the Class Period (a) enrolled in one or more of Defendants' full-time undergraduate programs, and (b) received at least some need-based financial aid from one or more Defendants, and (c) directly purchased from one or more Defendants tuition, fees, room, or board that was not fully covered by the combination of any types of financial aid or merit aid (not including loans) from one or more Defendants in any undergraduate year. The Class Period is defined as follows:

• For Chicago, Columbia, Cornell, Duke Georgetown, MIT, Northwestern, Notre Dame, Penn, Rice, Vanderbilt, Yale—from Fall Term 2003 through February 28, 2024.
• For Brown, Dartmouth, Emory—from Fall Term 2004 through February 28, 2024.
• For Caltech—from Fall Term 2019 through February 28, 2024.
• For Johns Hopkins—from Fall Term 2021 through February 28, 2024.

For more information, visit www.FinancialAidAntitrustSettlement.com.

How do I ask for money from these Settlements?
If you are a member of the Settlement Class and have not already submitted a valid and timely Claim Form for any of the prior settlements in this case, you must submit a valid and timely claim postmarked or submitted online by December 27, 2025 to get money from these Settlements. If you previously completed a valid and timely Claim Form for prior settlements, you will automatically be considered for these settlements and all additional settlements for which you are eligible. As part of the Court approved distribution and allocation process, the Claims Administrator will distribute to all Settlement Class members who have not excluded themselves from the Settlement Class and for which there are valid addresses an online link to a Claim Form to complete. The Claim Form will also be available on the Settlement Website www.FinancialAidAntitrustSettlement.com. Members of the Settlement Class may also contact the Claims Administrator by phone at 1-833-585-3338 or by email at [email protected] if they do not receive a Claim Form. The Claim Form will include instructions on how to submit or approve the Claim Form.

Will I need to file another claim form if I filed a claim form for earlier settlements in this case?
No. If you previously completed a valid and timely Claim Form for the settlements with Brown University, University of Chicago, Columbia University, Dartmouth College, Duke University, Emory University, Northwestern University, Rice University, Vanderbilt University, and Yale University, you need not submit another Claim Form and will automatically be considered for all additional settlements for which you are eligible.

Do Settlement Class members have a lawyer in this case?
Yes. The Court appointed the following law firms to represent Settlement Class members: Freedman Normand Friedland LLP, Gilbert Litigators & Counselors, PC, and Berger Montague PC. These firms are called Settlement Class Counsel. They will be paid from the Settlement Fund.

This notice is only a summary.
For more information, including links to the Claim Form, full Notice, and Settlement Agreements, visit www.FinancialAidAntitrustSettlement.com , email [email protected] , or call 1-833-585-3338.

Media Contact:
Angeion Group
Shiri Lasman
(215) 563-4116

SOURCE Angeion Group