Reports: Michigan State To Settle With Larry Nassar Victims For $500 Million

According to the Detroit Free Press and the Lansing State Journal, Michigan State has agreed to settle the lawsuits filed by hundreds of women who have said they were sexually abused by Larry Nassar for $500 million. The settlement was approved by the board of trustees this morning. The sum will be paid out to 332 women and girls who said they were sexually abused by Nassar.

The Free Press reported that the university will pay “$425 million and put the other $75 million in reserve in case other Nassar victims come forward.” The university has already spent in excess of $11 million in legal fees and other costs related to the litigation and fallout. (Including more than half a million dollars to monitor the social media accounts of victims and journalists.)

Interim president John Engler, who replaced Lou Anna K. Simon after she stepped down, has said that the cost of these settlements will be paid out of tuition fees and state aid. According to an MSU spokesperson, it’s unclear how much MSU’s insurance will pay out for the settlements.

This story will be updated as more information comes out about the settlement.