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.
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