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Michigan State to pay Nassar victims $500M in settlements

Michigan State to pay Nassar victims $500M in settlements

Michigan State University has settled hundreds of lawsuits filed against it by the survivors of MSU doctor Larry Nassar's sexual assaults.

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

The school will pay $425 million now and hold $75 million in reserve in case other Nassar victims come forward.

MSU also ended the last fiscal year with $1.1 billion in unrestricted net assets.

Earlier this month, Moody's Investor's Service lowered the school's rating, meaning MSU will pay higher interest rates if it borrows money.

Source: www.freep.com
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