LEGAL/TRUMP BUSINESS: “A federal court approved a $25 million settlement on Tuesday [2-6-18] with students who said they were duped by Donald Trump and his now-defunct Trump University, which promised to teach them the ‘secrets of success’ in the real estate industry.
The 9th Circuit Court of Appeals in San Francisco finalized the settlement after it was first approved by a judge last March following an appeal by Sherri Simpson, a Florida woman who said she spent roughly $19,000 on Trump University workshops. Simpson had wanted to opt out of a class action suit in order to pursue a separate suit against Trump, but the court rejected that… Trump faced two lawsuits in California and one in New York, brought by New York Attorney General Eric Schneiderman. They were folded into one class action suit after Trump was elected, according to court documents. Trump paid the $25 million in January of last year, but it was held in escrow until the court upheld the settlement, according to The Associated Press.
Schneiderman applauded the settlement in a statement… The court said in its ruling that plaintiffs are expected receive 80 percent to 90 percent of what they paid for Trump University programs. Trump, who has boasted about his real-estate and investing acumen, rebuffed the claims of fraud during his 2016 presidential campaign and vowed to fight them until the end. However, he quickly settled after the election.”
-Tom Winter and Dartunorro Clark, “Federal court approves $25 million Trump University settlement,” NBC News, Feb. 6, 2018 03:49pm