Freeh found many Penn State officials, including Paterno, concealed "critical facts relating to Sandusky's child abuse from the authorities, the board of trustees, Penn State community and the public at large."
Sandusky, a longtime Paterno assistant, was found guilty last month on 45 of 48 counts charging him with sexual abuse against 10 boys over a 15-year period. He faces up to life in prison when he is sentenced later this year.
Paterno was fired last November after 46 years as Penn State's head football coach amid accusations he didn't do enough to stop the abuse. He died of lung cancer in January.
In a statement Monday, the Paterno family said the findings were "yet another shocking turn of events in this crisis."
"We are dismayed by, and vehemently disagree with, some of the conclusions and assertions and the process by which they were developed," the family said. "Mr. Freeh presented his opinions and interpretations as if they were absolute facts. We believe numerous issues in the report, and his commentary, bear further review."
The family said it has instructed its attorneys and their experts to "conduct a comprehensive review of the materials released by the Freeh group, as well as Mr. Freeh's presentation and press conference."
"We have also asked them to go beyond the report and identify additional information that should be analyzed," the statement said. "And we have asked the Freeh group to preserve all records, notes and other materials related to the investigation and the presentation of their findings as we expect they will be the subject of great interest in the future.
"To those who are convinced that the Freeh report is the last word on this matter, that is absolutely not the case. Since various investigations and legal cases are still pending, it is highly likely that additional critical information will emerge. With that said, we want to take this opportunity to reiterate that Joe Paterno did not shield Jerry Sandusky from any investigation or review."