Former Penn State assistant football coach Jerry Sandusky was found guilty on 45 counts of child sexual abuse on Friday and now Penn State officials are attempting to settle those lawsuits with each victim.
According to officials the team at Penn State invited victims to discuss their demands right after Sandusky was found guilty.
In a statement regarding the school’s decision to settle its administrators wrote:
“The purpose of the program is simple – the university wants to provide a forum where the university can privately, expeditiously and fairly address the victims’ concerns and compensate them for claims relating to the university.”
With Sandusky found guilty and proof floating around that school officials failed to properly contact law enforcement authorities following complaints against Sandusky years earlier it makes sense that school officials would want to quickly end any further action brought against the university.
Suing Penn State could prove very lucrative for the unfortunately victims of Jerry Sandusky’s attacks as Penn State has annual operating revenue of $4.6 billion with an endowment of more than $1.8 billion.
The biggest obstacle for Penn State could be a legal battle with its main liability insurer, Pennsylvania Manufacturers’ Association Insurance Co. PMAI would be forced to pay much of the money given to civil settlements. Penn State also owns the Nittany Insurance Co of Vermont.
Some experts believe that Penn State could end up paying $1 million or more to each victim based on the universities failure to properly handle Jerry Sandusky’s actions when they first had the chance years earlier.