TMZ.com reports that Hulk Hogan and his son Nick have settled the lawsuit filed against them by the family of John Graziano, who was seriously injured while a passenger in Nick Hogan's Toyota Supra when he wrecked it in the summer of 2007. The terms of the settlement are confidential.

It's believed that Hulk Hogan settled the lawsuit to avoid the "media circus" that a trial would have brought and to resolve the matter in a way that's as painless as possible" for both the Hogan and Graziano families.

Hogan's attorney, David R. Houston, tells TMZ they are "pleased as this was in the best interest of John."

Linda Hogan, who was also sued by the Grazianos over the car wreck, reached a settlement with the family last month.

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