Stack Shares Concerns for Penn State’s Financial Future with University President

PHILADELPHIA, Dec. 1, 2011 — State Sen. Mike Stack today shared his concerns for the Pennsylvania State University’s ability to handle the financial fallout from the sexual abuse scandal in a letter to the university’s new President Rodney Erickson.

“The sexual assault allegations against former coach Jerry Sandusky are appalling, and my thoughts and prayers are with the alleged victims of these atrocities,” said Stack (D-Phila.). “This scandal has rocked Penn State and will have a long-term affect on the institution.”

The senator said he is reaching out to Erickson to start a conversation about how the university intends to handle potential settlements in civil cases brought against the university.

“As more allegations surface and reported victims file civil lawsuits, I am extremely concerned about Penn State’s level of liability coverage,” said Stack, who is the Democratic chairman of the Senate Banking and Insurance Committee. “Penn State must not consider using taxpayer dollars to offset payouts of these lawsuits.”

Attached is a copy of the senator’s letter to Penn State University President Rodney Erickson for your review.

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