Deere & Company (NYSE: DE) reached a settlement agreement to resolve multidistrict right to repair litigation in the United States District Court for the Northern District of Illinois, the company announced. The settlement addresses issues raised in a 2022 complaint with no finding of wrongdoing.

Under the settlement terms, Deere will deposit funds into a class settlement fund for distribution to class members through a court-approved plan and to cover administrative and legal fees. The company will continue providing customers and service providers access to repair resources, including tools, manuals, and diagnostic software.

"We're pleased that this resolution allows us to move forward and remain focused on what matters most – serving our customers," said Denver Caldwell, vice president of Aftermarket & Customer Support.

The settlement requires approval from the United States District Court for the Northern District of Illinois. Deere stated it will continue investing in customer uptime solutions and equipment technology for agricultural operations.

The information comes from a company press release statement.