That's certainly a big deal for victims; there are now more than 300 victims who have come forward, and given the $75 million set aside in the settlement for future victims, it's horrifying to think that there are likely many more out still out there.
The lawyers' statement does not address how the money will be allocated to each of Nassar's accusers.
The agreement is one of the largest sexual assault settlements in history, far eclipsing the  agreement Penn State University reached with victims in the wake of the Jerry Sandusky child abuse scandal. "However, I am deeply disappointed at the missed opportunity for meaningful reform and change at the University".
Nassar was sentenced to 40 to 175 years in prison after he was convicted of abusing 140 girls and one boy while he was a sports physician at Michigan State University for almost two decades and as a doctor for the Olympic gymnastics team.
The settlement covers only claims against MSU, not those against USA Gymnastics, the U.S. Olympic Committee or Olympic coaches. Many of them gave emotional testimony during Nassar's sentencing hearings.
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The US Department of Education is also investigating the public university's handling of reports of Nassar's abuse. Under the agreement, US$425 million would be paid to current claimants and US$75 million would be set aside for any future claims.
Nassar sexually assaulted women and girls while serving as a sports doctor at Michigan State.
He adds that resolving the litigation "is a positive step in moving us all forward". He is now serving a 60-year sentence in federal prison for possessing child pornography.
Roughly 300 victims have come forward, saying Nassar sexually assaulted them under the guise of medical treatment.
Trustee Brian Breslin, chairman of MSU's governing board, said the school is "truly sorry" for what victims and their families went through and says the school recognizes a "need for change" in sexual assault awareness and prevention.
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Olympic gold medalists Aly Raisman, Simone Biles, Gabby Douglas and McKayla Maroney have all identified themselves as victims of Nassar's abuse.
Nassar will likely spend the rest of his life behind bars.
Denhollander was the first survivor to file a criminal complaint against Larry Nassar back in 2016.
He treated campus athletes and scores of young gymnasts at his Michigan State office.
The Michigan State settlement is only part of several more ongoing legal battles related to Nassar. He built an global reputation while working at the same time for USA Gymnastics, which trains Olympians.
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