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Victims of Larry Nassar will receive $ 500 million in the Michigan state settlement

"The state of Michigan has demonstrated leadership by its willingness to begin closing this dark chapter," Jamie White , one of the lawyers sued MSU, told the publication. "The victims of Nassar can never recover, but this is a step in the right direction."

Nassar, 54, pleaded guilty to sex crimes on November 22, admitting that girls were sexually abused under the guise of medical treatment when he was a doctor.

"I just signed his death sentence," Michigan Circuit Judge Rosemarie Aquilina told Nassar during her January sentence of 40 to 175 years in prison.

The lawsuits against MSU and USA Gymnastics affirmed that the institutions did not protect the victims of Nassar from their abuse. USA Gymnastics has filed motions to dismiss the lawsuits against them and has denied those allegations.

"This historic agreement arose through the courage of more than 300 women and girls who had the courage to stand up and refuse to be silenced," said John Manly, a lawyer representing many of the victims, in the State Journal. "It is the sincere hope of all the survivors that the legacy of this agreement will be a far-reaching institutional reform that will put an end to the threat of sexual assault in sports, schools and throughout our society."

Part of the settlement includes reserving $ 75 million in case of future claims related to Nassar's abuse.

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