The Trek Bicycle Corporation and three-time Tour de France winner Greg LeMond have reached an out-of-court settlement in their breach-of-contract dispute. The court battle lasted nearly two years, with allegations about Lance Armstrong and doping often taking center stage.
The case was just one month away from going before a jury in a federal court in Minnesota when the two sides came to an agreement. The terms of the settlement are confidential, but a joint statement released indicates that the bicycle manufacturer has agreed to make charitable contributions to 1in6.org, an organization with which LeMond is affiliated.
"Greg has a hard-won place in the Pantheon of bicycle racing, and we are proud of what we were able to accomplish together," Trek Bicycle Corporation's president, John Burke, said in the release.
LeMond sued Trek in March of 2008, with the company filing a countersuit one month later.
"I am pleased to resolve the issues between Trek and myself and am happy to be able to move forward with the things important in my life," acknowledged LeMond, who now owns all of the rights to the LeMond Bicycle name.
The settlement agreement between the two parties means the case is now in line be dismissed with prejudice, in other words, neither side can produce the same claims against one another in a future lawsuit.
LeMond's attorney Jamie DiBoise said the settlement does not prevent LeMond from taking legal action against any other parties, including seven-time Tour de France winner Lance Armstrong.
Armstrong, who plans to attempt an eighth Tour de France victory this July, has said that he's not concerned about LeMond, although his lawyer, Tim Herman, attended his ex-wife's deposition in the case.