(Reuters: BlackBerry (NYSE 🙂 disclosed on Thursday that $165 million was agreed to to settle a lawsuit that has been pending for more than eight years. It had been accused of defrauding shareholders and exaggerating the success and profitability of its BlackBerry 10 smartphone.

The agreement requires the approval of a judge. It will pay claims made by those who purchased shares in the company between March 28th, 2013 and September 20th, 2013.

Reuters reports that on Wednesday, the company had announced that it was settling the lawsuit in order to avoid a US trial.

U.S. District Judge Colleen M. McMahon granted permission to shareholders and lawyers to postpone their trial in Manhattan to reach a preliminary settlement.

The company was accused by shareholders of hiding BlackBerry 10’s real sales prospects during 2013 in public statements. This led to an inflated share price.

While it is common for companies to be sued in US courts, few cases go to trial.

The BlackBerry 10, while receiving positive reviews from the critics, was never popularized by the public. People preferred Android smartphones to Apple Inc (NASDAQ)’s iPhones. BlackBerry decided to discontinue making phones in 2016.

Now, the Canadian firm has switched to cybersecurity and embedded operating systems for cars.