Billabong has reached a conditional agreement to settle a shareholder class action for $45 million.
The proposed agreement, which is subject to Federal Court approval, is inclusive of legal costs.
The class action commenced last year and was pursued on behalf of approximately 730 institutional and retail investors.
These investors acquired Billabong securities between 18 February 2011 and 19 December 2011.
The proposed settlement will be put before the Federal Court for approval, and class members will receive details of the proposed settlement shortly.
Billabong makes no admission of liability under the terms of the settlement agreement.
The proposed settlement was reached ahead of a seven week trial, which was scheduled to commence in March 2017.