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"Cablevision and Verizon have reached an agreement to resolve this dispute without further need for litigation," the companies said in a joint statement. In the lawsuit filed December 6 in Brooklyn federal court, Cablevision accused Verizon of running a deceptive advertising campaign based on a study from the Federal Communications Commission showing that the company only delivered up to 59 percent of its advertised Internet speeds during peak hours. Cablevision said Verizon's claims were based on an outdated August study that has since been updated. Verizon defended its use of the study, saying the results were based on a months-long study of Internet speeds, and accused Cablevision of deceiving customers. On Monday, Cablevision filed a notice that it was voluntarily dismissing the lawsuit. Further details were not made available. But in court papers filed December 12, Verizon said it had agreed to modify portions of the ads in question to address Cablevision's allegations. It will no longer refer to the FCC report as "new" or "recent" and will stop asserting that the study pertains to Cablevision's "current" speed performance, according to court filings. The case is Cablevision Systems Corp et al v. Verizon Communications Inc et al., in the U.S. District Court for the Eastern District of New York, no. 11-5934. (Editing by Lisa Von Ahn) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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