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Penn State will pay $59.7 million to 26 sexual abuse victims of former assistant football coach Jerry Sandusky, the school said Monday.
The terms of the settlements include confidentiality agreements, the school said in a press release. Of the 26 settlements, 23 are signed and three are agreements in principle, with final documentation expected within the next few weeks.
"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," Keith Masser, chair of the Board of Trustees, said in a statement. "This is another important milestone in accomplishing that goal."
University President Rodney Erickson called the agreements "another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State."
Harrisburg lawyer Ben Andreozzi, who represents nine of the victims, said he was pleased with the settlements.
"Obviously no amount of money can compensate for what these young men have gone through," he said. "But Penn State has given them the resources — financially and counseling — they need to help them recover."
Andreozzi said he has three more victims he has yet to present to Penn State because "it's not a good time" in their treatment.
No settlements will be funded by student tuition, taxpayer funds or donations, the university said. Expenses not covered by insurance are expected to be funded from interest revenues related to loans made by the school.
Penn State has rejected some of the six remaining claims as being without merit and has engaged others in possible settlement discussions. Penn State has spent more than $50 million on other costs related to the Sandusky scandal, including lawyers' fees, public relations expenses, and adoption of new policies and procedures related to children and sexual abuse complaints.
The terms of the settlements include confidentiality agreements, the school said in a press release. Of the 26 settlements, 23 are signed and three are agreements in principle, with final documentation expected within the next few weeks.
"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," Keith Masser, chair of the Board of Trustees, said in a statement. "This is another important milestone in accomplishing that goal."
University President Rodney Erickson called the agreements "another step forward in the healing process for those hurt by Mr. Sandusky, and another step forward for Penn State."
Harrisburg lawyer Ben Andreozzi, who represents nine of the victims, said he was pleased with the settlements.
"Obviously no amount of money can compensate for what these young men have gone through," he said. "But Penn State has given them the resources — financially and counseling — they need to help them recover."
Andreozzi said he has three more victims he has yet to present to Penn State because "it's not a good time" in their treatment.
No settlements will be funded by student tuition, taxpayer funds or donations, the university said. Expenses not covered by insurance are expected to be funded from interest revenues related to loans made by the school.
Penn State has rejected some of the six remaining claims as being without merit and has engaged others in possible settlement discussions. Penn State has spent more than $50 million on other costs related to the Sandusky scandal, including lawyers' fees, public relations expenses, and adoption of new policies and procedures related to children and sexual abuse complaints.
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