SAN JOSE, Calif.--(BUSINESS WIRE)--Covad Communications Group, Inc. (AMEX:DVW) today announced that the settlement in the Khanna, et al. v. McMinn, et al. lawsuit, has been approved by the Court of Chancery of the State of Delaware in and for New Castle County. The terms of the settlement are described in more detail in Covad’s release dated October 1, 2007. If the approval of the settlement is not appealed, Covad would receive approximately $5 million, net of plaintiffs’ counsel’s fee and certain costs, which Covad currently expects will be paid in cash. If the court’s approval is appealed, however, then funding will not occur pending any appeal. There can be no assurance that Covad will receive any proceeds from the settlement until after the appeal deadline has expired without an appeal, or until all appeals, if any, are favorably concluded. There can also be no assurance that the final settlement will be obtained.