Lindsay Lohan E-Trade Update. Lohan has reached an agreement with E-Trade. The actress was suing the financial firm for $100 million for their 2010 Super Bowl advertisement.
A lawyer for the actress said she has terminated the suit, but did not disclose the financial settlement details.
Lohan sued the company for a TV commercial featuring talking babies who mentioned a “milkaholic” named Lindsay, which the actress claimed was meant to be a joke on her.
The settlement comes just a day after a judge revoked her probation following a failed court-mandated drug test. The judge then issued a bench warrant for her arrest.
The 24-year-old actress had admitted on her Twitter page on Friday to testing positive for drugs, which constitutes a violation of her probation stemming from a 2007 drunken driving arrest and which follows a shortened jail and rehab stint.
“Regrettably, I did in fact fail my most recent drug test,” the actress wrote. “Substance abuse is a disease, which unfortunately doesn’t go away over night. I am working hard to overcome it and am taking positive steps. This was certainly a setback for me, but I am taking responsibility for my actions and I’m prepared to face the consequences.”
The drug test occurred “in recent days,” People magazine quoted an unnamed source as saying. A judge assigned to her case had told Lohan, who is still receiving outpatient therapy and must undergo random drug and alcohol testing twice a week ahead of a November 1 hearing, that she would continue to stay out of jail only if she tested negative.
Lohan’s arrest warrant will be held until Friday.