Hull have settled their legal dispute with former chairman Paul Duffen out of court, the club announced on Thursday morning.
City began proceedings against Duffen last month after accusing him of spending company money for private use during his time in charge.
Hull also alleged Duffen's company received payments from agents in return for allowing those same agents to negotiate transfers on the club's behalf.
A statement read: "Further to a statement made on 22 January 2010 regarding legal action commenced by Hull City against its former chief executive officer, we are pleased to confirm that we have agreed settlement on terms satisfactory to the club.
"This agreement brings to an end all disputes between the parties."