Now-closed Charlotte School of Law will pay former students $2.65 million under a proposed class-action settlement, Law.com reported. The school and student plaintiffs on Tuesday asked a federal judge in North Carolina to preliminarily approve the class and the settlement, saying it was the best deal the students could hope to achieve given the dire financial circumstances of the shuttered school and its parent company, InfiLaw Corp. If approved, the class-action settlement would end four federal suits and 90 state court suits targeting the school. Charlotte School of Law ran a net $8 million deficit in 2017, the year it closed, according to the settlement motion. InfiLaw lost more than $7 million in 2017 and $6 million through June 2018, the motion said. The settlement consists of the $2.5 million left from the school’s insurance policy, as well as an additional $150,000 directly from InfiLaw.
