The settlement, details of which were filed Monday in federal court, dictates that $25 million be paid to the plaintiffs’ lawyers by Jan. 18, 2017, Politico reports, citing legal documents. Trump’s inauguration will take place on Jan. 20.
The settlement marks the conclusion of three lawsuits against Trump’s now-defunct for-profit real estate seminar, alleging that Trump University defrauded students. Plaintiffs in the class-action suits are estimated to receive refunds worth half of what they paid to Trump University. Of the total, $4 million will be paid to settle the state lawsuit brought by New York Attorney General Eric Schneiderman.
Trump and Trump University did not admit any wrongdoing in the settlement.
“By any metric, this is a fair, adequate, and reasonable settlement,” attorneys for both parties wrote in the motion filed Monday. “Both Plaintiffs and Defendants believe in the merits of their cases and compromised to reach this result.”