Penn State announced on its website this afternoon that it reached settlement agreements with 26 of Jerry Sandusky's victims to the tune of $59.7 million. That dollar amount more or less matches the $60 million figure that had been reported over the summer by the Philadelphia-based Legal Intelligencer.
A total of 32 victims filed claims alleging they were abused by Sandusky, a former Penn State defensive coordinator. The university denied six of those claims as being "as being without merit," according to the statement. Twenty-three of the settlement agreements have already been signed, while three others have reached agreements in principle, with the paperwork expected to be signed "within the next few weeks."
Penn State expects insurance and interest revenues to cover the cost of the settlements. Sandusky was convicted last year of sexually abusing 10 boys and sentenced to 30-to-60 years in prison.
Photo: Associated Press