$500M settlement reached with Michigan State in Nassar case
18 May, 2018, 13:48 | Author: Regina Silva
The settlement - agreed to by the Board of Trustees in a May 15 conference call, Engler said - involved more than 300 victims of Nassar, who sued the university for failing to protect them from his sexual abuse while he was employed as a sports medicine doctor at MSU.
"The details of the funding sources and timing are not yet available", Fitzgerald said.
Litigation against other institutions Nassar was affiliated with, including USA Gymnastics, the U.S. Olympic Committee and Twistars, are still ongoing.
The deal surpasses the $100 million-plus paid by Penn StateUniversity to settle claims by at least 35 people who accused assistant football coach Jerry Sandusky of sexual abuse, though the Nassar agreement covers far more victims. Nasser pleaded guilty to multiple counts in 2017 and received a prison sentence of up to 175 years.
"It's not our intent to do that", MSU Interim President John Engler told political reporter Tim Skubick of WOOD TV8's Lansing sister station WLNS when questioned about asking the Legislature for cash.
From a performance perspective, Fabian said it's likely that the scenario may lead to rating downgrades and/or spread widening.
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Mittleman said the dates of the assaults will be important.
On May 3 Moody's downgraded MSU one notch to Aa2, affecting approximately $975 million of rated debt.
The settlement does not require any of the claimants to sign nondisclosure agreements.
The scandal also implicated Michigan State University, the university where Nassar practiced. Experts believe it is the largest settlement ever in a sexual misconduct case involving a university.
It's an honor Gina Nichols says will mean a lot to her daughter, who publicly revealed her connection to the case only a few months ago. In 2014, Amanda Thomashow prompted a Title IX investigation against MSU after she reported Nassar's abuse, but the probe ended after the school gaslit her, telling her that she did not understand a standard medical procedure from sexual assault. That's 29% of its total revenue of $2.9 billion.
"We are honored to recognize the courage of these women at the 2018 ESPYS, to acknowledge the power of their voices, and to shine a very well-deserved spotlight on what speaking up, fighting back, and demanding accountability can accomplish", said Alison Overholt, Vice President and Editor in Chief, ESPN The Magazine, espnW, and The ESPYS.
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