THQ and Adidas settle miCoach lawsuit [update: THQ statement]

THQ and Adidas have settled their $10.6 million lawsuit over the fitness game miCoach 24/7, reports Gamesta. A THQ representative informed the site that THQ will not be publishing miCoach. Details regarding the settlement are scarce, though an Adidas representative noted that the companies "amicably resolved the dispute, which will allow Adidas to get the miCoach game to market without delay and without compromising any of its unique features." Furthermore, "each party was recognized for and compensated for their important contributions to the game."

The lawsuit made the news earlier this month, with Adidas seeking $10.6 million in damages and alleging that THQ refused to turn over its publishing materials, thus keeping miCoach 24/7 from moving to a different developer. While we don't know how much money exchanged hands in the settlement -- THQ is in no shape to lose much cash right now -- it appears that miCoach 24/7 has indeed been moved to a new publisher.

We've contacted THQ for confirmation and further details.

Update: THQ has responded to Joystiq with an official statement regarding the lawsuit. The settlement dictates that Adidas will dismiss the suit and "a third party will reimburse THQ for certain of its development costs." Said third party will work with Adidas to bring the game to market. Finally, "THQ has no financial liability to Adidas or any other party in connection with the game." The full statement can be found after the break.

Adidas and THQ have reached an agreement under which Adidas will dismiss its lawsuit against THQ and a third party will reimburse THQ for certain of its development costs incurred in connection with the MiCoach game, thus enabling the third party and Adidas to bring the game to market. THQ has no financial liability to Adidas or any other party in connection with the game.