PSU trustees approve Sandusky settlements

Late Friday afternoon, Penn State’s board of trustees approved financial settlements with a number of people who say they were abused by Jerry Sandusky

The vote finally confirmed that these long discussed negotiations with Sandusky victims moved to the next stage with the settlement offers.

The settlements were approved by the full board of trustees.  Most of the details involved are being kept confidential, including two major issues, how many settlements were approved and what’s it going to cost the university?

The trustees were acting on recommendations from their legal and compliance committee and the action gives the university attorneys the go ahead to finalize settlement offers.

6 News learned close to 30 victims are involved, that’s nearly all the Sandusky victims who filed complaints against Penn State.

“We’re told the finalized settlement will include no admission of guilt from Penn State,” said trustee member Ira Lubert.  “That’s important with three former administrators still facing felony charges, and that the trustees counting on up to 50-percent of what’s expected to be millions of dollars in settlements, will be reimbursed by university’s insurance coverage.”