President-Elect Donald Trump to Settle Trump University Lawsuit

In a reversal from previous statements, Trump will pay $25 million to end the claims against him.
2:37 | 11/18/16

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Transcript for President-Elect Donald Trump to Settle Trump University Lawsuit
Donald Trump settling with students who claimed that trump University was fraudulent. We begin with Rebecca Jarvis. Reporter: Tonight, ABC news has learned attorneys for president-elect Donald Trump have settled all three fraud cases against Trump University for $25 million, and no admission of wrongdoing. Eric snyderman called it a fraud from beginning to end, confirmed the settlement. Calling it a major victory. Would you state your full name for the record, please? Donald John trump. Reporter: Representatives for the trump organization telling ABC news, resolution of these matters allows president-elect trump to devote his full attention to the issues facing our great nation. He had strong feelings about the case, but he was willing to put his personal beliefs aside. Reporter: While campaigning, trump vowed to never settle the claims. Saying Trump University has a 98% rating. Saying it imparted valuable knowledge, and that a vast majority of former students were happy. The allegations of fraud were set to make headlines, with the trial set to begin later this month before the judge whom trump criticized as bias because he was the son of Mexican immigrants. Brian Ross has reported students were falsely told Mr. Trump had personally selected the faculty. Tonight, it appears those claims will not go to trial. And Rebecca is with us live. Trump University had been a major campaign issue. Reporter: Yes, it was. And now it's settled. One of the other major issues, Mr. Trump's tax returns. President-elect trump, the first president in 40 years to get elected without releasing them. David?

This transcript has been automatically generated and may not be 100% accurate.

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