East Lansing, MI…Attorneys representing 332 survivors of former Michigan State University doctor Larry Nassar in lawsuits against Michigan State University and attorneys for the university announced a global settlement in principle totaling $500 million dollars.

The terms of the settlement are as follows:

$425 million dollars will be paid to current claimants
$75 million dollars will be set aside in a trust fund to protect any future claimants alleging sexual abuse by Larry Nassar
There will be no confidentiality agreements or non-disclosure agreements attached to the settlement. Additionally, the parties must act to address items necessary to finalize the agreement.

The settlement in principle was agreed to by the MSU Board of Trustees during a conference call held Tuesday night, May 15.

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.

Survivors’ attorney John Manly said, “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.”

“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,” said Robert Young, special counsel to MSU. “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.”