He's gonna get indignant like Boeheim when asked about this at pressers. He should probably watch his indignance and treat this seriously.
As far as the dismissal, I need to know more, because it's got to be hard if the students won't come forward or press charges to dismiss a player based on the reports of one staffer sharing info he/she gleaned from a private help group. Hopefully that's all the university had and there isn't more underneath this.
Also, and most importantly, if Sheed did this, then fuck him. Charge him and toss him in jail.