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Olympic gymnasts (l. to r.) Simone Biles, McKayla Maroney and Aly Raisman, and collegiate gymnast Maggie Nichols at a Senate Judiciary Committee hearing on Sept. 15. Photo: Saul Loeb/AFP/Bloomberg via Getty Images

USA Gymnastics and the U.S. Olympic & Paralympic Committee have reached a $380 million settlement with hundreds of U.S. gymnasts abused by former national team doctor Larry Nassar, the New York Times reported.

Driving the news: The settlement marks the end of a five-year legal battle and will compensate hundreds of gymnasts who were assaulted by Nassar and others over three decades, per the Wall Street Journal.

  • The monetary sum is also one of the largest ever in a sexual abuse case.

State of play: The settlement was announced Monday during a bankruptcy proceeding for USA Gymnastics in Indiana, per the Times.

  • Insurers of USA Gymnastics and the USOPC will fund most of the settlement, with USOPC paying $34 million and loaning USA Gymnastics $6 million for its own contribution, according to the Journal.
  • Many gymnasts — including Olympic gold medalists Aly Raisman and Simone Biles — have spent years mediating with the sports federation. The settlement will go to over 500 athletes and will help cover medical care needed as a result of the abuse, per the Times.

The big picture: Nassar was sentenced to a minimum of 100 years in prison in 2018 after 160 women accused him of sexually abusing them under the pretense of medical treatment.

  • In July, the FBI's inspector general issued a scathing report highlighting the "numerous and fundamental errors" in how the bureau handled its investigation into Nassar.
  • In September, FBI Director Christopher Wray formally apologized to survivors for the agency's mishandling of the investigation.

Go deeper

Dec 13, 2021 - Technology

Google settles children's privacy suits brought by New Mexico

Photographer: Michael Nagle/Bloomberg via Getty Images

Google has agreed to set up a privacy and online safety initiative for children in New Mexico, after being accused of violating U.S. law that governs children's privacy on the internet.

Driving the news: Google LLC and New Mexico Attorney General Hector Balderas announced a settlement Monday over allegations Google violated the Children's Online Privacy Protection Act (COPPA) and New Mexico state consumer protection laws.

Updated 18 mins ago - Economy & Business

Tax season nightmare ahead for understaffed IRS

Illustration: Shoshana Gordon/Axios

The IRS will start accepting 2021 tax returns in less than a week, and the filing delays and administrative headaches to come might eclipse last year — which was “one of the worst filing seasons," according to an independent advocacy agency within the IRS.

Why it matters: For taxpayers, especially with complex or paper filings, this means headaches, delayed refunds, and mistakes.

China builds its own movie empire

Expand chart
Data: Gower Street citing Comscore; Chart: Kavya Beheraj/Axios

China blocked all four of Disney's Marvel movies from being released in its theaters last year, a grim sign for U.S. film giants being squeezed out of the world's fastest-growing box office.

Why it matters: The Chinese Communist Party is using domestic films as a key conduit for mass messaging aimed at achieving political goals, leaving little room for foreign views.