Penn State to Pay Nearly $60M to Sandusky Victims

by Christopher Freeburn | October 29, 2013 10:51 am

Penn State to Pay Nearly $60M to Sandusky Victims

penn state 300x295 Penn State to Pay Nearly $60M to Sandusky Victims[1]Twenty-six men who say they were victimized by a former assistant football coach will share in a hefty payout from the university that employed him[2].

On Monday, Pennsylvania State University announced that it had finalized settlements with 23 of the victims and had concluded agreements in principle with three others. The men, who say they suffered sexual abuse at the hands of Jerry Sandusky, will receive a total of $59.7 million. The settlements leave Penn State still facing claims from six other victims, with additional settlements possible, the Associated Press notes.

Last year, Sandusky was convicted of 45 criminal counts of sexual abuse of young men whom he coached. He was sentenced to between 30 and 60 years in prison, but is appealing his convictions. The revelations of the abuse — which reportedly dated back decades — ended the career of the university’s storied head coach Joe Paterno. Penn State was also hit with hefty fines by the NCAA.

The scandal has already cost Penn State more than $50 million. Liability insurance will cover the settlements and other legal costs.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/10/penn-state.png
  2. will share in a hefty payout from the university that employed him: http://www.boston.com/news/nation/2013/10/28/penn-state-people-get-over-sandusky/KynLURD7xyriSEzA3GNpgM/story.html

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