An agreement was reached between the Golden Gate Yacht Club and Societe Nautique de Geneve that all outstanding litigation regarding the recent 33rd America's Cup match will be dropped by both sides.
This includes Golden Gate Yacht Club's breach of fiduciary duty claim against SNG, as well as all other claims over the design and construction of yachts Alinghi 5 and USA.
Golden Gate Yacht Club's yacht USA won the most recent match Feb. 14 off Valencia, Spain.
"In place of controversy, we seek consensus. Instead of continuing argument, we are pleased to have reached agreement," GGYC commodore Marcus Young said in a statement.