New York, November 4 : Oscar-winner Charlize Theron, who was sued by Swiss watchmakers for a breach of contract, has settled the 20 million dollar suit.

According to the official documents filed in the Manhattan Federal Court, the suit is set to be dropped once it reaches its final stages within 30 days, reports the New York Daily News.

Luxury watchmaker ‘Raymond Weil’ had sued the ‘Monster’ star, the brand ambassador of its exclusive range between October 2005 and December 2006, after she was spotted sporting a Christian Dior timepiece at a film festival.

The 33-year-old was accused of demonstrating ‘ a total disregard by (Theron) for any of her obligations under the agreement,” and later ordered to court.

The company revealed that it had spent millions to use Theron''s image for the promotion of their watches. (ANI)