Maybe the original action (the sexual abuse) happened 40 years ago. But he continued to lie about it until recently and pushed other people to lie on his behalf. This isn't 40 years ago, this is still very recently. This is still wrong and was a wrong that was ongoing. Had he actually been honest about these things and properly served whatever justice is right for these things and lived openly about it for the last 40 years, it would be a very different story.
And now he's suing the church for millions of dollars for some retirement he feels he's entitled to. This is church money, which should be used to push the work of Christ. He's massively enriching himself, to continue living a lavish lifestyle instead of actually helping the people he was charged to help. Yet another wrong.