Michigan State University has agreed in principle to a settlement that will pay $500 million dollars to victims in the Larry Nassar sexual abuse scandal.  It is believed to be the largest settlement ever in a sexual misconduct cast involving a university.

Attorneys representing 332 claimants reached an agreement during a mediation hearing with university representatives Tuesday afternoon.

The lawsuits also name USA Gymnastics, the U.S. Olympic Committee and specific individuals at some of those institutions as defendants. Those parties have not yet reached a settlement agreement.

Nassar was sentenced to up to 175 years in state prison as part of a plea deal in criminal court. More than 200 people provided victim impact statements at his sentencing hearings in January. He is currently serving a 60-year federal prison sentence for child pornography charges.

Under the agreement, $425 million will be distributed to the claimants who are part of the lawsuit.  The remainder will be held in case others step forward.

Nassar was sentenced to up to 175 years in state prison as part of a plea deal in criminal court.