CHICAGO, May 14, 2020 /PRNewswire/ -- Stoltmann Law Offices announces a $44.9 million proposed class action settlement involving DeVry University Inc. ("DeVry") and Keller Graduate School of Management ("Keller") has been reached and warns former DeVry and Keller students to strongly consider excluding themselves from the class action in order to pursue individual claims instead. The settlement will lead to a settlement for defrauded DeVry students of only $44.95 million. This works out to approximately $139 for each of the 323,000 class members. Stoltmann Law Offices is encouraging former DeVry students to either request an exclusion from the class action or object to its settlement.
According to Chicago attorney Andrew Stoltmann, who is currently representing over 500 defrauded DeVry students in individual actions against DeVry, students should "Contact our law firm to learn how to exclude yourself from this meager class action settlement and actually attempt to wipe out all of your debt from DeVry instead of eliminating only a few hundred dollars. The proposed class action settlement for DeVry students is woefully inadequate and it won't put a meaningful dent in the massive sums owed by DeVry and Keller students."
Stoltmann also notes, "In many instances, DeVry students who are currently saddled with massive debt and working dead-end 'McJobs' at Walmart, Verizon Wireless stores and Target were tricked into attending the school based on two central advertising claims that they would obtain employment in their field. These statements were false and misleading."
According to Stoltmann, very specific steps must be taken by DeVry students in order to be excluded from this class action settlement. "Specifically, DeVry students need to request in writing they be excluded from the class action settlement, otherwise they will be barred from suing individually to secure a meaningful award that could actually wipe out their debt. There are specific steps that must be taken by the former students including sending a letter to the court with their name, address and telephone number stating 'I hereby request to be excluded from the proposed settlement class' by a certain date."
Stoltmann Law Offices is currently representing over 500 former DeVry students who are saddled with over $50 million in life altering debt. These claims are filed as individual arbitration claims for former students of DeVry and Keller. They are seeking all debt be wiped out along with the recovery of attorney fees, costs, and punitive damages. All of these cases are being handled on a contingency fee basis meaning there are no attorney's fees owed unless they win. Please call the law firm in Chicago, Illinois at 312.332.4200 or visit www.StudentLoandebtSlave.com for more information about suing DeVry individually and being excluded from the class action.
SOURCE Stoltmann Law Offices