Donald Trump to pay $25M to settle Trump University lawsuits
Donald Trump has agreed to pay $25 million to settle three lawsuits against Trump University.
The deal will keep the president-elect from having to testify in a trial in San Diego that was set to begin November 28.
The settlement ends a suit brought by New York Attorney General Eric Schneiderman, as well as two class action suits in California. About 6,000 former students are covered by the settlement.
Trump University is the defunct, for-profit real estate seminar business Trump created in 2005. Former students say they were hoodwinked by the program and claimed that teachers were not hand-picked by Trump as advertised. Some paid tens of thousands of dollars to participate.
The settlement is a complete turnaround from Trump’s earlier position on the lawsuits.
“This is a case I could have settled very easily, but I don’t settle cases very easily when I’m right,” he said in March.
But since Trump was elected, U.S. District Judge Gonzalo Curiel urged the parties to settle the case to avoid the immense complications of a president-elect facing trial while preparing to take office.
Last week, one of Trump’s attorneys indicated that he might change his position on settling.
Schneiderman said Friday that he was pleased with the terms of the settlement. He first filed the suit in 2013.
“The victims of Trump University have waited years for today’s result and I am pleased that their patience — and persistence — will be rewarded by this $25 million settlement,” he said in a statement.