The report accuses the wrestler of theft from locker rooms and sexual misconduct against both Penn State students and teammates.
Falzone has been committed to the Nittany Lions since April.
The 2024-25 season was highlighted by wrestling and women's volleyball national championships.
Konan Niederhauser is the first Nittany Lion drafted since Jalen Pickett and Seth Lundy were drafted in the 2023 NBA Draft.
Petersohn is the second four-star athlete in the Nittany Lions' 2026 recruiting class.
