The New York Times reports. The settlement was announced after EA Sports GM of American Football Cam Weber revealed that the publisher's 2014 college football game has been canceled.
Among the cancellation of next year's game and the re-evaluation of its college football series, Weber said the publisher has "been stuck in the middle of a dispute between the NCAA and student-athletes who seek compensation for playing college football." While there's no word on how the settlement amount will be divided among the class, it will reportedly cost EA $40 million.
We've contacted the Lanier Law Firm's attorney on the case and EA for confirmation, and we will update as we learn more.