Ponting had filed a suit at the Federal Court against Kevin Leonard Consulting Pty Ltd, a Victorian company, alleging deceptive and misleading counduct by owning the domain name www.rickyponting.com.au.
The website, since shut down, was sued under Trade Practices Act but Ponting has now decided for settlement of the damage claim outside the court.
Ponting's lawyers informed the judge dealing the case that the matter had been resolved outside the court.
"I grant leave to the applicant to file in court a notice of discontinuance," Justice Rares was quoted as saying.