Trump University settlement is $25 million.
Donald Trump has settled three Trump University lawsuits for $25 million, the New York Attorney General has said. The University has been at the forefront of a controversy that could have been a problem for the president-elect.
President-elect Trump was being sued by former students who paid $35,000 for real estate “secrets” from his “hand-picked” instructors.
Mr Trump had repeatedly said he would not settle the class-action lawsuits.
Attorney General Eric Schneiderman said the settlement was a “stunning reversal” by Mr Trump and a “major victory” for victims.
But Mr Trump’s lawyer Daniel Petrocelli said his client was pleased with the outcome, saying “he was willing to sacrifice his personal interests, put this behind him, and move forward”.
The businessman faced three fraud lawsuits – which alleged the school misled students and failed to deliver on its promises – in California and New York.
The New York Daily News first broke the news.
A trial in one of the cases had been due to begin in San Diego on 28 November, although Mr Trump’s lawyers had attempted to delay the case.
New York Attorney General Eric Schneiderman said in a statement: “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.
“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.”
On other issues President-elect Donald J. Trump spoke with the following foreign leaders who have offered their congratulations. They were Prime Minister of Iraq, Dr. Haider Al-Abadi, Secretary General of NATO, Jens Stoltenberg and President of European Union Council, Donald Tusk.
Finally, President-elect Trump will spend his weekend at Trump National Club in Bedminster, N.J. to hold several meetings to gather input and recommendations for his Administration. He is expected to hold more interviews during the weekend as he fills out the key roles in his admiration.
Some quotes in this story came from ASSOCIATED PRESS.Video from CNBC.