Michigan State reaches $500M settlement with Larry Nassar victims

Michigan State University announced Wednesday that it has reached a $500 million settlement with hundreds of people alleging they were abused by former sports doctor Larry Nassar.

The settlement, announced by the university and lawyers representing 332 victims, requires that $425 million be divided among those who are part of different lawsuits against the school, while the remaining $75 million be set aside for two years for any others who may levy claims of abuse against Nassar. 

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The deal, agreed to in principle by the university's board of trustees, only applies to Michigan State University and doesn't address claims against USA Gymnastics, the U.S. Olympic Committee or other former Olympic officials. 

Nassar, who also worked for USA Gymnastics, has been sentenced to decades in prison for sexually abusing female gymnasts under his care while claiming to treat them for sports injuries.

More than 200 people gave statements about the abuse at court proceedings on the case in January. 

Among those who have claimed abuse by Nassar are Olympic gymnasts Aly Raisman, McKayla Maroney and Simone Biles. 

The disgraced doctor has also been sentenced to 60 years in prison on child pornography possession charges. 

Updated at 12:30 p.m.