The University of Michigan has agreed to a $490 million settlement with more than 1,000 people who say they were sexually assaulted by a former sports doctor during his nearly four-decade career at the school, the university and those involved in the settlement announced Wednesday.

"We hope this settlement will begin the healing process for survivors," said Jordan Acker, chair of the University of Michigan Board of Regents. "At the same time, the work that began two years ago, when the first brave survivors came forward, will continue."

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