Michigan State $500M Larry Nassar settlement: Who will pay?

Michigan State $500M Larry Nassar settlement: Who will pay?

Michigan State University has reached a $500 million settlement with victims of Larry Nassar, the former MSU doctor who admitted to sexually abusing women under the pretense of medical treatment.

"That being said, my investigation is still open and ongoing", said Bill Forsyth, the special prosecutor appointed by Attorney General Bill Schuette to investigate how Nassar's abuse went on for years.

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"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", said John Manly, a lawyer for numerous victims.

The settlement, which covers all 332 current claimants, will cost Michigan State $500 million.

Nassar, who is now in federal prison, for years preyed upon girls and young women in his role as a university doctor and as a physician for the U.S. Olympic gymnastics team.

Victim and former gymnast Aly Raisman appears before speaking at the sentencing hearing for Larry Nassar, a former team USA Gymnastics doctor who pleaded guilty in November 2017 to sexual assault charges, in Lansing, Mich., Jan. 19, 2018.

Rachael Denhollander of Louisville, Ky., who in 2016 was the first woman to publicly identify herself as a victim, said the agreement "reflects the incredible damage which took place on MSU's campus".

MSU Trustee Dianne Byrum had this to say after the settlement was reached, "I am pleased a settlement has been reached with the fearless young women whose lives have been impacted by this tragic situation".

"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", he said in a statement. We will continue working as a Board to address the necessary changes and improvements that are needed at our university.

USA Gymnastics, the U.S. Olympic Committee, and a local gym where Nassar worked, Twistars, are also named as defendants in the suit.

Nassar, 54, pleaded guilty to assaulting victims with his hands under the guise of treatment.

It led to the biggest crisis in MSU history, including the ouster of President Lou Anna K. Simon and Athletic Director Mark Hollis.

In 2014, a patient at the MSU Sports Medicine Clinic filed a formal complaint, alleging she was sexually abused during an apppintment with Nassar.

The settlement only applies to cases brought against Michigan State University and individuals associated with the school.

Former MSU and USA Gymnastics doctor Larry Nassar sits during the sentencing phase in Eaton, County Circuit Court in Charlotte, Michigan.

The settlement drew mixed reviews from those abused by Nassar. The school was accused of ignoring or dismissing complaints for years about Nassar. His sentencing in state court this year drew global attention as hundreds of his victims described their abuse.

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