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Michigan State settles with Nassar victims for $500 million

Michigan State University has reached a $500 million settlement with hundreds of victims of Larry Nassar, the former school physician who has been accused of sexual assault by scores of women, the Detroit Free Press reports. The settlement, announced Wednesday, requires the school to immediately pay out $425 million while reserving $75 million should other Nassar victims come forward.

Nassar remained employed by Michigan State for years after his abuse was first reported to school officials; university president Lou Anna Simon and athletic director Mark Hollis have both resigned in the wake of Nassar's legal reckoning. Nassar was also a longtime team doctor for USA Gymnastics, and several athletes spoke out about his abuse at his sentencing earlier this year, including Olympic gold medalists Aly Raisman and Jordyn Wieber.

In January, Nassar, 54, was sentenced by Judge Rosemarie Aquilina to 40 to 175 years in prison on seven counts of criminal sexual conduct.