PSU news by
Penn State's student blog

Topics

More

Penn State Settles 26 Sandusky Settlements for $59.7 Million

Penn State announced today it settled with 26 individuals who claim to have been abused by Jerry Sandsuky for $59.7 million. The specific terms of the individual agreements will not be revealed because of confidentiality agreements, but this is the first time Penn State has given an official number.

“We hope this is another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State,” said President Rodney Erickson. “We cannot undo what has been done, but we can and must do everything possible to learn from this and ensure it never happens again at Penn State.”

Twenty-three of the 26 settlements are fully signed and three are agreed in principle, which should be finalized in the new few weeks.

The $59.7 million will be reflected in the university’s audited financial statements for the year that ended July 30, 2013. The settlements will not be paid for with tuition, taxpayer dollars, or donations. The university believes its various insurance liability policies will cover settlement and related costs.

Expenses not covered by insurance should be funded from interest revenues related to loans made by Penn State to its self-supporting units.

The university rejected claims from six individuals, finding those to be without merit. Penn State has, however, engaged with others in possible settlement discussions.

“The Board of Trustees has had as one of its primary objectives to reach settlements in a way that is fair and respects the privacy of the individuals involved,” said Keith Masser, chairman of the Board of Trustees. “This is another important milestone in accomplishing that goal. I would like to thank the board’s Legal and Compliance Committee, as well as its Legal Subcommittee for its leadership throughout this process.”

Your ad blocker is on.

Please choose an option below.

Sign up for our e-mail newsletter:
OR
Support quality journalism:
Purchase a Subscription!

About the Author

Jessica Tully

Jessica Tully is a first-year law student at Penn State's Dickinson School of Law. She graduated in May 2014 with degrees in journalism and political science.

Comments

State College Links
Other posts by Jessica

Phyrst and Cafe 210 West Closed Early on State Patty’s Day

At least two locals bars have closed their doors to the public early due to rowdy State Patty’s Day patrons. The Phyrst and Cafe 210 West closed at about 7 p.m. Saturday.

55 Days Of Cafe: To Drink Or Not To Drink?

Sign Your Favorite Memories At The THON Museum

Shakers, Standing, & Safety: A Refresher On Beaver Stadium Etiquette

It’d been about two years since fans were in Beaver Stadium. And, as a result, two entire classes of Penn State students had just about no idea what they were doing in the stands.

Shakers, Standing, & Safety: A Refresher On Beaver Stadium Etiquette

It’d been about two years since fans were in Beaver Stadium. And, as a result, two entire classes of Penn State students had just about no idea what they were doing in the stands.

Brisker, Brown Headline Strong Lackawanna Pipeline For Penn State Football

“We’re going to continue to be brothers from here on out. It’s just a permanent thing for us now.”

‘Saving The Roar’ Set To Premiere At State Theatre September 17

Nearly three years in the making, “Saving The Roar” tells the story of the 2012 Penn State football team.

Send this to a friend