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May 15, 2021 03:34 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/gJejNr3EYa0/three-students-sue-lambda-school-alleging-false-advertising
Three Students Sue Lambda School Alleging False Advertising
Lambda School -- incubated at Y Combinator -- raised $130 million in venture funding from several investors including Google Ventures. Its original business model involved six-month virtual computer science courses for $30,000, remembers TechCrunch, "with the option of paying for the courses in installments based on a sliding scale that only kicks in after you land a job that makes at least $50,000." But this week three former students "filed lawsuits against the company in California, claiming misleading financial and educational practices."The suits — which are being brought by the nonprofit National Student Legal Defense Network on behalf of Linh Nguyen, Heather Nye and Jonathan Stickrod — go back to a period of between 2018 and 2020, and they focus on four basic claims. First, that Lambda School falsified and misrepresented job placement rates. Second, that Lambda School misrepresented the true nature of its financial interest in student success (specifically, there are question marks over how Lambda handles its Income-Share Agreement contracts and whether it benefits from those). Third, that it misrepresented and concealed a regulatory dispute in California that required the school to cease operations. And fourth, that it enrolled and provided educational services and signed Income-Share Agreement contracts in violation of that order... Some of the issues that are raised in the lawsuits have also been resolved since then. For example, the prominent display of over 80% of students finding jobs can no longer be found on the Lambda site, and in California you no longer get an Income-Share Agreement but a retail installment contract (similar but different). But as is the way of litigation, lawsuits based on past issues from people who were impacted by them when they were still active, are, in many ways, the next logical, unsurprising step.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/gJejNr3EYa0/three-students-sue-lambda-school-alleging-false-advertising
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