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GlaxoSmithKline said it had agreed to the settlement to avoid the delay and expense of a trial.
A Lockheed spokeswoman said the company did nothing wrong and agreed to the settlement "to avoid the distraction of litigation".
His lawyer, Phyllis G. Pollack, said her client had done nothing wrong but had agreed to the settlement to avoid the expenses associated with litigation.
In a statement, Bank of America noted that the case involved conduct that predated its acquisition of Countrywide, adding that it "agreed to this settlement to avoid the expense and distraction associated with litigating the case".
The latest push for a settlement began last Wednesday as both Highfields Capital Management, one of Clear Channel's largest shareholders, and Morgan Stanley, one of the six banks, urged a settlement to avoid the uncertainties of a jury trial.
Andrew J. Levander, Mr. Boyle's lawyer, put a markedly different cast on yesterday's events, calling the deal "a nominal settlement to avoid the time and cost of further litigation".
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Even the most ancient settlements, to avoid the absolute neglect, will have to consider a "contemporary" and environmentally aware vision of refurbishment.
Even a successful defense of a patent lawsuit costs upwards of a million dollars, so cash settlements to avoid the nuisance factor are significant.
Mr. Fishman and Mr. Berg said they made considerable progress yesterday afternoon, as the two sides took the rare step of presenting their bottom lines 36 hours before the strike deadline, with an eye toward reaching an early settlement to avoid disrupting the holidays.
All parties in the lawsuit would have to sign off on the proposed settlement to avoid trial, and the agreement would have to be approved by a Surrogate's Court judge; that could happen as early as next week, one of the lawyers said.
The Los Angeles City Council voted unanimously Wednesday, with one member absent, to approve the settlement "to avoid further litigation or controversy" regarding the dumping of biosolids, according to the agreement.
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