The Navajo Nation is moving to settle a trust mismanagement settlement for $554 million.

The tribe sued the Interior Department in 2006 for mismanagement of its trust funds and trust assets. After years of negotiation, the Navajo Nation Council agreed to accept the settlement, which is the largest single tribal settlement so far.

“The agreement marks the successful conclusion of years of hard fought litigation and secures a very substantial award for the Navajo Nation,” Navajo Nation Council delegate Lorenzo Curley said in a press release.

The deal still needs to be approved by President Ben Shelly and by the Obama administration.

"The agreement marks the successful conclusion of years of hard fought litigation and we are grateful for the efforts of the BuckleySandler team in securing this very significant result for the Navajo Nation," Navajo Nation Attorney General Harrison Tsosie said in a press release distributed by law firm BuckleySandler.

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Navajo panel OKs deal to end trust-fund suit (AP 5/31)