Thursday, December 1, 2016

Trump Tweets Trump University Deal Helps Him Focus on US

For sure, there is no way that he can run through a trial of this potential complexity and be president at the same time.  I am also sure that it was tentatively settled on that basis a long time ago allowing all parties to forgo expense.  Not a bad outcome for the plaintiffs.  They got lucky.

One of the annoying things about dealing with litigious customers in the financial services business is that the broker is actually often enough the victim a reasonable proportion of the time.  Thus while it is easy to settle when you are plausibly in the wrong you find yourself been asked to settle when you are completely in the right.  Yet there is another party at the table there.  It is the regulator who presumes guilt when there are law suits been pursued by the company.  You become aware that numbers are a double edged sword.

Thus the Donald could easily have 4000 lawsuits in his development business.  Had his business been financial services, he would have been shut down even if he was completely innocent. Around an education style business it also becomes problematic.

Good to see the end of it and settling was the best out there. It was obviously no winner.

Trump Tweets Trump University Deal Helps Him Focus on US 

NEW YORK—President-elect Donald Trump says he agreed to settle lawsuits over Trump University “for a small fraction of the potential award because as president I have to focus on our country.”

Trump made the comment on Twitter Saturday. He also tweeted that “the ONLY bad thing about winning the presidency is that I did not have the time to go through a long but winning trial on Trump U.”

It was announced Friday that Trump had agreed to a $25 million settlement to resolve three lawsuits over Trump University, his former school for real estate investors. The lawsuits alleged the school misled students and failed to deliver on its promises in programs that cost up to $35,000.

Trump has denied the allegations and has said repeatedly he would not settle.

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