Michigan State settles

[seminole72]

for $500million

https://www.lansingstatejournal.com...-michigan-state-settlement-lawsuit/614502002/

 

[Calif_Nole]

Well I guess we know where all their BTN money is going for the next few years. Ouch.

 

[llnole]

It's a state school. Ultimately, insurance and taxpayers will foot this bill. That's okay by me, these ladies deserve compensation.

 

[ericnole]

A lot of people should be in jail for what they let happen at both MSU and PSU, the dollar amount looks large, what those people are guilty of is much larger.

 

[ReliableOstrich]

$425m goes to the victims (350+ victims I believe, so under a $1m each after fees/taxes)
$75m goes into a fund to pay anyone who steps forward in the future

It's unfortunate for the taxpayers of Michigan but the victims absolutely deserve this and more.

 

[AllNoles]

I’m assuming they have sovereign immunity like Florida and the leglislature has to sign off?

 

[LesClaypool]

I read they have $1.1 billion in cash now on hand that was earmarked for new construction. That will be the source of funds.

 

[AllNoles]

That may not be easy to do. I’d have to imagine a lot of that is designated gifts.