Mamma.com Inc. (NASDAQ: MAMA), the company behind the self-proclaimed "Mother of All Search Engines®" announced today that the settlement of the securities class action lawsuit pending against the company and certain officers and directors has received tentative approval.

The Mamma.com class action is pending in the United States District Court for the Southern District of New York before Judge Harold Baer, Jr.

The settlement is valued at $3.15 million, $2.5 million of which will be paid by the company's insurance carrier and $650,000 from the company.