.
Last week, USC announced that it will pay out more than $1 billion to settle hundreds of sexual abuse claims against a former campus gynecologist, George Tyndall. Now, the campus is bracing for the financial fallout.
The settlement, Folt said in the letter, will be funded over the next two fiscal years largely through a combination of litigation reserves, insurance proceeds, deferred capital spending, sale of non-essential assets, and careful management of non-essential expenses.
Folt told the USC community that paying the settlement wouldn t hurt USC s academic excellence. But not everyone was reassured. We kind of have to take their word for it, and that leads to suspicion and doubts, Gross said.
USC Reaches $852M Deal In Sex Abuse Claims Against Doctor
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US university to pay over $1bn in abuse settlement
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USC agrees to $852 million payout in sex abuse lawsuit - World News
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USC agrees to $852 million payout in sex abuse lawsuit - World News
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