New York A.G.: Trump University lawsuits settled for $25 million

NEW YORK -- New York's attorney general says President-elect Donald Trump has agreed to a $25 million settlement to resolve three lawsuits over Trump University, his former school for real estate investors.

The deal announced Friday by Attorney General Eric Schneiderman would settle two class-action lawsuits in California and a civil suit filed by Schneiderman.

The suits had alleged that Trump University failed to deliver the quality real estate investing education it promised.

Schneiderman says the $25 million to be paid by President-elect Trump or one of his business entities includes restitution for students and $1 million in penalties to the state.

The deal doesn't require President-elect Trump to acknowledge wrongdoing.

Messages left with President-elect Trump's attorneys weren't immediately returned. Mr. Trump has strongly denied the allegations and said during the campaign that he wouldn't settle.