PROVO -- Contrary to published reports, the Canopy Group, a high-tech venture capital firm based in Lindon, has not reached an out-of-court settlement with three ousted executives.
      Attorneys for both sides appear to be moving in that direction, but the matter could end up back in court, sources told the Deseret Morning News.
      Attorneys for Canopy were expected to appear in 4th District Court Tuesday for a four-day hearing. That hearing was canceled, and according to papers filed just before courts closed on Monday, it was nixed because a settlement had been reached.
      A source close to the case -- who asked not to be named -- said attorneys from both sides are in the middle of delicate negotiations that could result in a settlement.

This is interesting since it seems to contradict everything that's been reported so far. Like here is another article saying that a joint press release would be put out soon:

An acrimonious four-month legal battle over control of the management of Canopy Group ended with an out-of-court settlement reached late Monday.

The settlement, whose terms remain undisclosed, was reached one day before a four-day hearing on ousted Canopy president and CEO Ralph Yarro's request for a preliminary injunction was scheduled to start Tuesday.  

The hearings, which were to have been held through Friday before Judge Anthony W. Schofield in 4th District Court in Provo, were canceled following notice of the settlement on Monday.

David Watkiss, an attorney who had filed a countersuit against Yarro on behalf of Lindon-based Canopy and its founder Ray Noorda and his wife, Lewena, said the settlement would end Yarro's lawsuit.

That lawsuit challenged the legality of his ouster and that of former CFO Darcy Mott and former corporate counsel Brent Christensen by raising questions about Noorda's competency -- and the Canopy countersuit. Noorda, whom Yarro claims was pressured by his daughter, Val Noorda Kreidel, into voting Yarro out of the company, has Alzheimer's disease and hasn't been involved in Canopy's management since 1998.

Both Yarro and Canopy are expected to issue a joint statement on the settlement shortly, Watkiss said.

He declined to comment on terms of the settlement but said the "joint statement could shed some light."