Settlements are normally confidential but it would be something for both parties to reach an agreement and stop the proceedings. Broadly (not saying i know all) speaking it encompasses some form of compensation, promise not to publish further defamatory and an apology.

The fellas sounded so confident going into the fight and I am surprised they "pulled out prematurely"  .

I guess they see the futility of the legal proceedings and the cost that was pilling up. Normally, for defamatory action, you will need both parties equally rich and stubborn to see it to its conclusion. They they will deploy their strategies, bring in experts, delay and appeal all the way to federal court before settling.

The settlement seem to suggest that one party might have given up, a weak case (ermm?) or they lack the financial muscle especially being slapped with a hefty fine.