The parties filed "joint notice of settlement and joint request to vacate discovery deadlines" documents with the court on Tuesday.
"Plaintiffs and Defendants jointly report that they have agreed to settle their claims in the above-entitled action," the documents state.
Terms of the settlement were not disclosed. The agreement still needs court approval.
Vanessa Bryant had filed a lawsuit against Island Express Helicopters over the Jan. 26, 2020 crash in Calabasas that killed Kobe and Gianna Bryant, as well as Alyssa Altobelli, John Altobelli, and Keri Altobelli; Payton Chester and Sarah Chester; Christina Mauser, and helicopter pilot Ara Zobayan.
The pilot's estate was also named as a defendant in the wrongful-death suit.
The Altobelli, Chester and Mauser families were also involved in legal actions against the company. The documents filed by Vanessa Bryant's legal team indicate the other families were also part of the settlement.
DEVELOPING: This story will be updated.