Walmart, Tracy Morgan Settle Lawsuit Regarding 2014 New Jersey Turnpike Accident

"Walmart did right by me and my family, and for my associates and their families. I am grateful that the case was resolved amicably," comedian said in a statement

Walmart and Tracy Morgan have agreed upon a settlement.

According to a press release, the retail giant and Morgan's attorney Benedict P. Morelli announced a settlement agreement Wednesday, effectively ending a lawsuit against Walmart arising from the June 7, 2014, multi-vehicle accident on the New Jersey Turnpike. Terms and conditions of the settlement with Morgan and the other plaintiffs are confidential.

"Our thoughts continue to go out to everyone that was involved in the accident," Greg Foran, Walmart U.S. president and CEO, said in a statement. "While we know there is nothing that can change what happened, Walmart has been committed to doing what's right to help ensure the well-being of all of those who were impacted by the accident. We worked closely with Mr. Morelli, and we are pleased to have reached an amicable settlement that ends this litigation. We are deeply sorry that one of our trucks was involved."

Morgan's attorney Morelli stated: "Walmart and I worked diligently to reach this settlement for the plaintiffs and their families. Walmart took full responsibility for the accident, which we greatly appreciate."

Morgan issued the following statement as well: "Walmart did right by me and my family, and for my associates and their families. I am grateful that the case was resolved amicably."

—Reporting by Lindsay Good