While the amount of the settlement is undisclosed, the 30 Rock star's attorney Benedict Morelli said in a statement released on Walmart's website, "Walmart took full responsibility for the accident, which we greatly appreciate."
Regarding the settlement, Morgan said in the statement, "Walmart did right by me and my family, and for my associates and their families. I am grateful that the case was resolved amicably."
On June 7, 2014, a Walmart truck crashed into the limo bus Morgan was riding in, along with a number of the comedian's friends. Morgan, his personal assistant Jeffrey Millea, and comedian Ardie Fuqua were injured in the crash. Millea and Fuqua were also plaintiffs in Morgan's suit against Walmart.
The driver of the truck, Kevin Roper, was traveling approximately 20 mph over the speed limit and had been awake for nearly 24 straight hours before the crash, according to officials at the National Transportation Safety Board.
The 46-year-old Morgan suffered broken ribs, a broken nose, a broken leg, severe head and back trauma, and is reportedly still recovering from his injuries nearly a year after the accident.
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Tracy Morgan, Walmart settle lawsuit over fatal traffic collision
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW YORK, NY - MAY 06: Tracy Morgan speaks onstage at Spike TV's 'Don Rickles: One Night Only' on May 6, 2014 in New York City. (Photo by Theo Wargo/Getty Images for Spike TV)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
NEW BRUNSWICK, NJ - JUNE 11: Kevin Roper arrives for a court appearance at Middlesex County Courthouse on June 11, 2014 in New Brunswick, New Jersey. Roper is the Walmart truck driver accused of causing the accident that critically injured comedian Tracy Morgan on Saturday, June 7. (Photo by Dave Kotinsky/Getty Images)
