Louis Walsh has received €500,000 in damages from the Irish Sun over a false story.
The 'X Factor' judge took the tabloid newspaper to court over a story published in June 2011 - also picked up by the UK edition - which claimed he sexually assaulted a man in a nightclub in Dublin, Ireland, and is now ''relieved'' the ordeal is over.
Speaking outside the High Court in Dublin Louis said: ''I'm very relieved. This has had a terrible effect on me. It was all lies.
''And I'm very satisfied with this total vindication for me, but I remain very angry at the treatment I received at the hands of The Sun.''
He also revealed how ''traumatised'' he was at the allegations made towards him as he previously held respect for journalists.
The 60-year-old music mogul added: ''I am therefore absolutely gutted and traumatised that these allegations against me should have been published, particularly as I had made it clear there was not one iota of truth in it. And I was totally bewildered as to who would have made up this story.''
Louis' lawyer Paul Tweed confirmed the Sun had settled the case by paying €500,000 in damages plus costs.
Leonard Watters, an unemployed dance teacher, was sentenced to six months in jail in July for his false accusation that Louis groped him after a Westlife concert in April 2011.
Eoin McCullough, senior counsel for News Group Newspapers, read to the court: ''The Sun published an article in its editions of 23 June 2011, in which we reported that Louis Walsh was being investigated in relation to a sexual assault on Leonard Watters.
''The Sun fully accepts that the alleged assault did not occur in the first place and Louis Walsh is entirely innocent of any such assault.
''The Sun unreservedly apologies to Louis Walsh for any distress caused to him as a result of our article.''