A settlement has been reached in the Iowa class-action lawsuit against Microsoft Corp.

The terms of the settlement are not being disclosed pending preliminary court approval, which is expected in April.

“We are confident that the settlement is in the best interests of all members of the class, and we are deeply grateful for the quality and fairness of the judicial process in Iowa,” said Roxanne Conlin, lead counsel for the plaintiffs.

Conlin filed the lawsuit in 2000, claiming that Microsoft engaged in illegal monopolization and anti-competitive conduct that caused customers to pay more for software than they would have had there been more competition.

Microsoft denied the allegations, saying Iowa customers received quality products at a fair price.

Under the settlement, Microsoft will provide half of any unclaimed proceeds to the Iowa Department of Education to bridge the digital and technical divide in Iowa schools through the purchase of computer hardware and software.

“One of the best aspects of resolving this case is that we can provide much-needed resources to underprivileged schools,” said Rich Wallis, associate general counsel for Microsoft. “We’re happy to have this matter behind us so we can focus on the future and build the next generation of products and innovations that enrich the lives of people around the world.”