Is there a valid case here? And what what is the best way for me to proceed?

In 2008, I was arrested and charged with 6 felonies by my university Police Department. They never had proper evidence to link me to these charges. I was suspended from the University for 2 years until the case was resolved. They eventually dismissed the case in early 2009 "due to no information filed". I just graduated May 2013 from that same university and I am now ready to pursue a Defamation or some of type of false arrest lawsuit due to the fact this these charges are still on my file and I am unable to get a job in my field of study due to these felony charges even though on my background they show "dismissed" but the fact of the matter is that employers see this and I am immediately rejected. I was wrongfully arrested and they never had any proof I did anything. This felony arrest has tarnished my name and my life forever. Is there a case here?