Lindsay Lohan settled a $100 million lawsuit against E-Trade Financial Corp (ETFC) for allegedly modeling a "milkaholic" baby girl in an ad after her.

The case was withdrawn with prejudice, meaning it cannot be brought again, Reuters said. Details of the settlement were not immediately available.

"It was a simple business decision. We always have to consider the cost and time involved in litigation, and we are pleased to have the matter behind us," E-Trade spokeswoman Allison Jeannotte said.

Lohan sued in March, saying that the portrayal of a baby girl named Lindsay breached her privacy.

The ad shows a baby boy apologizing to his girlfriend via video chat for not calling her, saying he was busy using E-Trade. The baby girlfriend asks if "that milkaholic Lindsay" was around at the time.

Another baby girl then walks into the frame, presumably Lindsay, who asks Milk-a-what?"