Starbucks strike settlement in Teavana lawsuit

Starbucks (NASDAQ:SBUX) settled a lawsuit with Simon Property Group (NYSE:SPG) over the closing of Teavana stores, according to New York Post.

A judge in Simon"s home turf of Indianapolis issued an injunction last year preventing Starbucks from closing the Teavana stores.

Terms of the settlement were not disclosed.

Shares of Starbucks closed just over $60 on Friday and are up 5.2% YTD.