Judge OKs $3.2M Deal For College Application Co. Investors

By Sarah Jarvis (June 7, 2021, 4:06 PM EDT) -- A New Jersey federal judge has given her preliminary approval for a $3.15 million settlement to resolve investors' claims accusing a Chinese education company of hiding the fact that it was ghostwriting college applications for its clients.

U.S. District Judge Katharine S. Hayden's preliminary approval of the deal on Friday between New Oriental Education & Technology Group Inc. and investors comes one year after the investors asked for approval of the settlement.

"The court preliminarily finds that the proposed settlement should be approved because the court will likely: (a) be able to certify a settlement class; and (b) be able to...

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