Recent legal developments have brought antitrust class actions to the forefront in both higher education and the cryptocurrency sector, with significant cases involving prominent universities and Coinbase, a leading cryptocurrency exchange.
In the realm of higher education, a class-action lawsuit filed in 2022 accused 17 prestigious U.S. universities of favoring affluent applicants and disadvantaging financially needy students in their admissions processes, allegedly violating antitrust laws. This litigation, representing approximately 200,000 current and former students, led to settlements totaling $284 million from ten universities. Notable contributions include Brown, Yale, and Columbia Universities collectively paying $62 million, Dartmouth and Rice each contributing $33.75 million, Northwestern paying $43.5 million, and Vanderbilt University settling for $55 million. While these institutions denied any wrongdoing, they agreed to the settlements to refocus on their academic missions. The case continues against other institutions such as Cornell, Georgetown, and the University of Pennsylvania. ([reuters.com](https://www.reuters.com/legal/government/us-judge-approves-284-mln-settlements-financial-aid-litigation-2024-07-19/?utm_source=openai))
In a related development, attorneys involved in the House v. NCAA antitrust class-action lawsuit were awarded over $475 million in legal fees, with the potential to reach $725 million depending on future benefits to student-athletes over the 10-year settlement term. This lawsuit, initiated in June 2020, challenged NCAA restrictions on student-athlete compensation. U.S. District Judge Claudia Wilken approved the fee request, highlighting the attorneys’ exceptional outcomes. Legal experts consider the fee request reasonable given the case’s complexity and risk. ([apnews.com](https://apnews.com/article/3ce2392e51523528873c96a1d02f9e89?utm_source=openai))
Turning to the cryptocurrency sector, Coinbase has faced multiple class-action lawsuits alleging the sale of unregistered securities and failure to register as a broker-dealer. In February 2023, a federal judge dismissed a class-action suit against Coinbase, ruling that the plaintiffs failed to establish their claims and that Coinbase’s marketing efforts did not constitute solicitation. ([cnbc.com](https://www.cnbc.com/2023/02/02/coinbase-stock-jumps-after-federal-securities-suit-dismissed.html?utm_source=openai)) However, in April 2024, the 2nd U.S. Circuit Court of Appeals partially revived the lawsuit, allowing certain allegations to proceed. ([blockworks.co](https://blockworks.co/news/coinbase-class-action-lawsuit-partial-revival?utm_source=openai))
Further complicating matters, in February 2025, the U.S. Securities and Exchange Commission (SEC) dismissed its lawsuit against Coinbase, marking a significant shift in regulatory stance towards cryptocurrency exchanges. ([cincodias.elpais.com](https://cincodias.elpais.com/criptoactivos/2025-02-21/la-sec-retira-su-demanda-contra-coinbase-en-un-gran-triunfo-para-el-sector-cripto.html?utm_source=openai))
These cases underscore the evolving legal landscape in both higher education and the cryptocurrency industry, highlighting the complexities of antitrust and securities laws as they adapt to changing societal and technological contexts.