Lawyers for Ruden McClosky settled a malpractice lawsuit brought by a group of local investors who invested in a hedge fund operated by the now-defunct law firm.

Miami attorney Andy Hall, who represented plaintiff Capital Partners High Yield Mezzanine Fund, said he was pleased with the $1.7 million settlement. The settlement, reached on the eve before the trial was to begin in Broward Circuit Court, was signed and paid late last month.