VALPARAISO, Ind. (AP) — Valparaiso University officials say the northwestern Indiana college will shutter its financially struggling law school after nearly 140 years.

School officials say students, faculty and staff were informed Monday of Friday's decision by the school's board of directors to teach out the law school's remaining students and cease operations.

School President Mark Heckler tells The (Northwest Indiana) Times that closing the law school "was the only viable option." He says school officials will meet with each of the remaining law students to review their options.

The announcement of the planned closure comes weeks after Tennessee regulators rejected a plan to move the law school to Middle Tennessee State University's Murfreesboro campus.

The law school was founded in 1879 on Valparaiso University's campus in Valparaiso, about 15 miles southeast of Gary.

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Information from: The Times, http://www.nwitimes.com