Judge approves Trump varsity $25 million settlement

LOS ANGELES: President-elect Donald Trump’s $25-million settlement with former students who claimed they were defrauded by his namesake university won preliminary court approval.

US District Judge Gonzalo Curiel in San Diego said in a ruling on Tuesday that the settlement, which will reimburse the students about half of what they paid for the Trump University real-estate seminars less refunds they already received, was fair and adequate.

The judge gave the students, some of whom paid as much as $35,000 for the seminars, 75 days to file objections to the settlement. A final approval hearing is set for March 30.

“In light of the multiple risks of continued litigation, the complexity of individualised damages determinations, and the likelihood of delay of any recovery, the court preliminarily finds that the estimated amount of recovery that eligible class members will receive is fair, adequate, and reasonable,” Curiel said.