The lawsuit, filed in February in Santa Fe, against Baldwin, the film’s production companies, its producers and other key members of the crew, alleged numerous industry standard violations.
Matthew Hutchins, widower of Halyna Hutchins who was killed on set, will be an executive producer on film and receive a portion of the profits, the statement adds.
“We have reached a settlement, subject to court approval, for our wrongful death case against the producers of Rust, including Alec Baldwin and Rust Movie Productions, LLC. As part of that settlement, our case will be dismissed,” Matthew Hutchins said in a statement.
“The filming of Rust, which I will now executive produce, will resume with all the original principal players on board in January 2023.
“I have no interest in engaging in recriminations or attribution of blame (to the producers or Mr. Baldwin). All of us believe Halyna’s death was a terrible accident. I am grateful that the producers and the entertainment community have come together to pay tribute to Halyna’s final work.”
Alec Baldwin’s attorney, Luke Nikas of Quinn Emanuel, said in a statement that “everyone has maintained the specific desire to do what is best for Halyna’s son”.
“We are grateful to everyone who contributed to the resolution of this tragic and painful situation,” he said.
Film director Joel Souza, who was also injured in the shooting, is expected to return to the film.
“Those of us who were lucky enough to have spent time with Halyna knew her to be exceedingly talented, kind, creative, and a source of incredible positive energy,” Souza said.
“I only wish the world had gotten to know her under different circumstances, as it surely would have through her amazing work. In my own attempts to heal, any decision to return to finish directing the film could only make sense for me if it was done with the involvement of Matt and the Hutchins family.
“Though certainly bittersweet, I am pleased that together, we will now complete what Halyna and I started.
“My every effort on this film will be devoted to honouring Halyna’s legacy and making her proud. It is a privilege to see this through on her behalf.”
Rust Movie Productions, LLC, attorney Spadone of Pillsbury Winthrop Shaw Pittman, said: “We are pleased the parties came together to resolve this matter, which, subject to court approval, marks an important step forward in celebrating Halyna’s life and honouring her work.”
The lawsuit also claimed the production companies and producers “cut corners” and “chose to hire the cheapest crew available”, specifically noting that they “knowingly hired a wholly unqualified armorer”, and required her to split time in a second role as assistant props master.
Deadline first reported news of the settlement.