US: ‘Historic’ $500m settlement reached in Larry Nassar gymnastics sex abuse lawsuit

US gymnasts who were sexually abused by their doctor, Larry Nassar, are set to receive a $500 million settlement from Michigan State University (MSU), one of the largest settlements of its kind.

California law firm Manly, Stewart & Finaldi announced the deal struck with the university on behalf of 332 victims earlier today.

Under the agreement, MSU will pay $425 million to the 332 victims, and set aside the remaining $75 million in a trust fund to be paid for future plaintiffs who allege they were abused by their former employee.

The 54-year-old former gymnastics doctor is currently serving multiple prison sentences for sexual assault of minors and child pornography.

In a statement issued today, lawyer 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.”

Brian Breslin, chair of MSU’s Board of Trustees, added: “A successful resolution to the litigation is a positive step in moving us all forward. We will continue working as a Board to address the necessary changes and improvements that are needed at our university.

“We appreciate the hard work of the mediator and the parties involved in coming to this fair resolution.”