Sony Computer Entertainment America has launched a joined statement with George "GeoHot" Hotz, in which they announce that a settlement has been made between the two parties.
The agreement was reached on the 31st of March, 2011, and although the actual details weren't disclosed, the statement declares that Hotz consented to a permanent injunction.
"Sony is glad to put this litigation behind us," said Riley Russell, General Counsel for SCEA. "Our motivation for bringing this litigation was to protect our intellectual property and our consumers. We believe this settlement and the permanent injunction achieve this goal."
On the other side of the fence, Hotz said "It was never my intention to cause any users trouble or to make piracy easier. I'm happy to have the litigation behind me."
Source: PlayStation Blog