Warner Bros. has settled out of court with J2 Communications and agreed to pay approximately $ 80,000 in damages in a fraud suit, sources said.
The suit was one of two filed more than a year ago related to a residuals dispute over the three “National Lampoon’s Vacation” films.
J2 owns the National Lampoon trademark. The other suit, filed by J2 against producer Matty Simmons, also reportedly is near amicable settlement.
Simmons himself had also sued J2, charging that the company failed to live up to a 1989 agreement related to the films. In that suit, he charged that J2 and National Lampoon owed him $ 700,000. As part of this settlement, Simmons and J2 reportedly will drop their suits, sources said.
An attorney for Warner Bros. said he could not comment on the case, due to a confidentiality clause.