Olympics / Gymnastics

Michigan State unveils $500M settlement with Nassar victims

Posted On: May 16, 2018   |   Posted By: Politico

Michigan State University announced Wednesday that it has agreed to pay out $500 million to settle hundreds of claims filed against Larry Nassar, the disgraced university doctor who treated Olympic gymnasts. Under the terms of agreement, which still must be finalized, $425 million will go to 332 individuals, while $75 million will be set aside in a trust fund to protect any future claimants, the university said. The terms agreed to in principle top the more than $109 million that Penn State University paid to settle claims by at least 35 people that assistant football coach Jerry Sandusky had sexually abused boys, according to the Associated Press. "Michigan State is pleased that we have been able to agree in principle on a settlement that is fair to the survivors of Nassar's crimes,” Robert Young, the special counsel to the university, said in a statement. “We appreciate the hard work both sides put into the mediation, and the efforts of the mediator, which achieved a result that is responsible and...

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