UPDATE: MSU reaches settlement with Nassar survivors for $500M

EAST LANSING, Mich (WLNS) - Michigan State University has settled hundreds of lawsuits filed against it by the survivors of Larry Nassar's sexual assaults.

Sources connected to the survivors tell 6 News that the announcement will come from the university today.

6 News has confirmed reports that it is expected that the settlement will cost the school at least $500 million. 

$425 million will go to survivors who currently have claims against the university. The remaining $75 million will be placed into a fund and used for future claims.

MSU special counsel Robert Young released a statement on the settlement:

"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. 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 equitable.”

According to a release from MSU, John Manly, who represented several of the survivors, also released a statement:

“This historic settlement came about through the bravery of more than 300 women and girls who had the courage to stand up and refuse to be silenced. We appreciate the diligent efforts of Mick Grewal and the survivors’ attorneys throughout the nation who worked to obtain this measure of justice and healing. We also thank the mediator and all who participated in crafting this settlement. It is the sincere hope of all of the survivors that the legacy of this settlement will be far reaching institutional reform that will end the threat of sexual assault in sports, schools and throughout our society.”

MSU officials say there will be no confidentiality or non-disclosure agreements attached to the settlement.

The release says MSU trustees agreed to the settlement in principle during a conference call Tuesday night. MSU Board of Trustees Chairman Brian Breslin released the following statement on the settlement:

"We are truly sorry to all the survivors and their families for what they have been through, and we admire the courage it has taken to tell their stories. We recognize the need for change on our campus and in our community around sexual assault awareness and prevention. A successful resolution to the litigation is a positive step in moving us all forward. We will continue working as a Board to address the necessary changes and improvements that are needed at our university.

"We appreciate the hard work of the mediator and the parties involved in coming to this fair resolution."

According to the university the settlement applies to only Michigan State University and MSU individuals sued in the litigation. It does not address claims against USA gymnastics, the United States Olympic Committee, Bela and Martha Karolyi, Twistars, John Geddert or any other parties.

There have been closed door meetings between the survivors and lawyers for the university. 

There are approximately 300 victims related to the Nassar assaults.

This story is developing and will be updated online and on 6 News tonight.

More Stories

Meet the Team

Don't Miss

Latest News - Local