Trump reaches $25 million settlement in Trump University case

President-elect Donald Trump's lawyers have reached a settlement in the lawsuit against Trump University, New York Attorney General Eric Schneiderman confirmed in a statement Friday. Though Trump reportedly did not admit to any wrongdoing in the settlement of the class-action lawsuit, the billionaire did agree to pay $25 million to settle the case, including $1 million in penalties to the state of New York for violating education laws. The suit accused the now-defunct, for-profit university of fraud.

"Today's $25 million settlement agreement is a stunning reversal by Donald Trump and a major victory for the over 6,000 victims of his fraudulent university," Schneiderman said in a statement.

Trump vowed prior to his election that he would not settle the suit, brought by students who claimed they did not receive the real estate "secrets" and "hand-picked" instructors they were promised — after paying nearly $35,000 each in tuition. Throughout the entire campaign the trial date — originally set for Nov. 28 — loomed, and Trump's team had voiced concerns the legal battle would conflict with Trump's mounting responsibilities as president-elect.

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U.S. District Judge Gonzalo Curiel, the judge whom Trump accused of being unable to provide a fair trial because of his Mexican heritage, was set to preside over the case.