Investors and the court-appointed receiver in the Stanford Financial Ponzi scheme case have settled claims against Stanford’s former counsel Proskauer Rose LLP.

The move appears to bring the complex multi-jurisdictional litigation pending for nine years to a close.

Though “vigorously” denying any wrongdoing or liability, Proskauer has agreed to pay $63 million for a release from all claims against it related to the elaborate $7 billion Ponzi scheme infamously masterminded by R. Allen Stanford and the phony certificates of deposit...