Cochlear Ltd. (COH.AU) said Friday its subsidiary Cochlear Americas has resolved a long-running case with the U.S. government by agreeing to pay a settlement of US$950,000.

"Cochlear Americas specifically disputes and denies the factual and legal allegations in relation to sales programs and other conduct alleged to have occurred from 1998 to 2003 in the USA," the company said in a statement.

Cochlear said it agreed to the settlement to avoid ongoing legal fees, and the uncertainty and expense of litigation.

-By Neil Sands, Dow Jones Newswires; 61-3-9292-2095; neil.sands@dowjones.com
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