In a prepared statement to the London Stock Exchange (LSE) this morning, Sportingbet said it has reached an "amicable resolution" with the St. Landry District Attorney (SLDA) in the state of Louisiana.
The company said moreover that all related warrants issued by the Louisiana state police have been cancelled with immediate effect, and that both it and the SLDA now consider the matter closed.
Trouble began when, last September, then company chairman Peter Dicks was arrested in New York at Louisiana's request. Dicks was freed Sept. 29 and ordered to return to the United Kingdom, after New York Gov. George Pataki decided extradition to Louisiana was not warranted.
Shares in Sportingbet peaked today at 67.25p, a five month high.
Click here to read the statement.