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CHARLESTON, W.Va. (AP) — Mountain State University's sale of campuses in Beckley and Martinsburg has been approved by a three-judge panel.
The school's Beckley campus has been sold to West Virginia University for $8 million, while its Martinsburg campus is going to a Virginia limited liability company called Viking Way Holdings, according to media reports.
Judges on a mass litigation panel approved the sales on Friday, pending a 30-day appeal period. They postponed a ruling on a larger settlement that would distribute $8.5 million of those sales to as many as 14,000 MSU students.
The private school's accreditation was revoked by the Higher Learning Commission in June 2012 because of leadership, organizational and integrity issues.
WVU President Gordon Gee has said WVU has a unique opportunity to better serve the people of the state by having a presence in Beckley. In a statement Friday, he said he was "truly delighted" by the opportunity the sale presents.
"We look forward to creating collaborative and unique educational experiences for all students of West Virginia," Gee said.
Hundreds of former Mountain State students are part of a class-action lawsuit seeking some of the proceeds of the sales. They claim they were harmed by the school's closing and left with credits that wouldn't transfer to other institutions, among other complaints.
The panel of judges delayed ruling on the overall settlement until Feb. 26 because of objections from former students over how specifically the money will be disbursed.
WVU Provost Joyce McConnell said several steps remain prior to completion of the Beckley campus.
"We look forward to collaborating with our academic colleagues and others in the region to develop coordinated, efficient, academic opportunities for the people there," she said in a statement.
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