LYNCHBURG, Va. (WSET) — Nearly four years after stepping down as the fourth president of Liberty University, Jerry Falwell, Jr. and the Board of Trustees of the University announced Friday they have reached a global resolution agreement settling all outstanding disputes in both legal and personal matters.
Liberty University said this agreement is grounded in a firm commitment to protecting and preserving Liberty’s original mission of developing "Christ-centered men and women with the values, knowledge, and skills essential to impact the world."
A year ago, Falwell, Jr. announced that Liberty University was being sued by the Dr. Jerry L. Falwell Family Trust, alleging the university has exploited Dr.Jerry Falwell Sr.’s trademarked name and image. Falwell Jr. also sued the university claiming he was owed millions of dollars in retirement payments.
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Now, the university said the settlement is based on a mutual understanding regarding the amount Liberty University will pay Falwell, Jr. in authorized retirement and severance under the various disputed agreements and in keeping with the law; and the conditions under which the University will make use of Dr. Falwell’s name, image, and likeness.
The University appreciates and acknowledges the many contributions of Jerry Falwell, Jr. during more than three decades of service to the University in various capacities, including his 13 years as president and agree that he was instrumental in building Liberty into the world-class Christian institution it is today," Liberty University wrote in a press release.The university goes on to say that both the Board of Trustees and Jerry Falwell, Jr. "sincerely regret" the lengthy and painful legal process and that they each take responsibility for their part in the disputes.
Falwell Jr. acknowledges and apologizes for his errors in judgment and mistakes made during his time of leadership, according to the university. The Board of Trustees also acknowledges and apologizes for the errors and mistakes as well, the university. said.
"The Trustees and Falwell are committed to move forward in a spirit of forgiveness and with the hope of reconciliation in a Christ honoring manner," the release said.
Any possible financial details in this settlement have not been disclosed as of yet.
ABC13 has reached out toFalwell, Jr. for further comment, but we have not heard back at this time.
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