The class-action lawsuit also named Franco's partners in the school, Vince Jolivette and Jay Davis.
Bilzerian left college after achieving significant financial success and focused his time on funding start up companies.
Tither-Kaplan and Gaal's suit alleged that the Franco eschewed current film industry guidelines for nude scenes.
It's also not uncommon for a pair of flesh coloured knickers to be cut at the sides and stuck on at the front and back.