President-elect Donald Trump has agreed to settle lawsuits against him regarding the now-defunct Trump University for $25 million.
The lawsuits were filed in California and New York.
New York Attorney General Eric Schneiderman issued a statement Friday afternoon indicating that 6,000 former students will receive restitution for their tuition payments and the State of New York will receive up to $1 million in penalties.
The president-elect won’t admit to any wrongdoing under the agreement.
The deal eliminates a litigation headache for Trump two months before his inauguration.
Trump had indicated during the campaign this year that he wanted the cases to go to trial and would not settle them.
Trump University has a 98% approval rating. I could have settled but won’t out of principle!
— Donald J. Trump (@realDonaldTrump) February 29, 2016
After the litigation is disposed of and the case won, I have instructed my execs to open Trump U(?), so much interest in it! I will be pres.
— Donald J. Trump (@realDonaldTrump) June 2, 2016
The businessman indicated that 98 percent of the students who participated in the real estate seminars gave the coursework positive ratings.
“Normally, legal issues in a civil case would be heard in a neutral environment. However, given my unique circumstances as nominee of the Republican Party and the core issues of my campaign that focus on illegal immigration, jobs and unfair trade, I have concerns as to my ability to receive a fair trial,” he wrote.
“While this lawsuit should have been dismissed, it is now scheduled for trial in November,” he added.
The trial was slated to begin at the end of the month and the president-elect faced the prospect of being compelled to testify in court either just as he is preparing to take office or shortly afterwards.