Trump University to pay out $25 million settlement just days before inauguration: report
On Monday night, lawyers filed details of President-elect Donald Trump’s $25 million settlement that he agreed to in November as a resolve for three pending lawsuits concerning Trump University, Politico reports.
The settlement was submitted to a federal court in San Diego and indicates that the president-elect will personally see that the $25 million is disbursed to the plaintiffs’ lawyers by Jan. 18, 2016, according to the Hill.
Trump’s lawyers and the plaintiffs’ lawyers filed a joint statement urging U.S. District Court Judge Gonzalo Curiel to approve of the settlement. “By any metric, this is a fair, adequate, and reasonable settlement,” the attorneys wrote.
The deal would offer a refund of up to 50 percent of the fees that participants had to pay to the University for a three-day seminar. The initial lawsuit against Trump alleged that the program was not as advertised.
For instance, while the for-profit real estate seminar claimed that Trump hand-picked instructors, he later admitted that he was not involved in their hiring and did not actually know them personally.
Trump’s attorneys continue to deny any fraudulent activity, and both Trump and the University deny any wrongdoing in their proposed settlement.
“While Plaintiffs are confident in the strength of their class claims, Defendants were confident in their defense,” attorneys for both sides wrote. “Plaintiffs acknowledge the risk that they would be unable to obtain a jury verdict against Defendants, and TU’s financial condition meant collecting any judgment against it would be difficult.”
Individuals enrolled in the program spent, on average, $1,500 for the three-day seminar or up to $35,000 to participate in a mentorship program. At least $4 million of the total $25 million settlement will be set aside for a settlement in a separate lawsuit that New York state Attorney General Eric Schneiderman brought forth against Trump, according to the report.
Thirteen others who claim to also be class members opted out of the initial case but said they could still bring separate lawsuits on their own.
See the court documents here.