The settlement, which was reached yesterday, came the same day the divorce trial was expected to resume. Though terms of the agreement are confidential, a source close to Dina says she is happy with the outcome.
Dina's attorney Robert S. Cohen tells People magazine, "Dina and the children are delighted that this chapter in their lives is finally over. And it is over."
Through his attorney John DiMascio Jr., Michael states, "I'm happy with the agreement and look forward to the opportunity to rebuild my relationship with my children."
Dina, 43, and Michael, 45, married in 1985. In divorce papers which were made public, Dina claimed that her husband was abusive and a philanderer.
Meanwhile, Michael, who is currently in prison for crimes including assault and driving while impaired, originally sought half of Dina's earnings, which she makes as Lindsay's manager.
Mean Girls star Lindsay based several of the songs on her album A Little More Personal (Raw) on her family woes.
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