Cubic Corp. on Monday settled a shareholder...

Cubic Corp. on Monday settled a shareholder lawsuit that alleged that executives at the San Diego-based defense contractor used defense-industry consultants to bribe federal officials in order to win lucrative contracts.

The settlement, in which Cubic acknowledged no wrongdoing, was approved during a brief hearing before U.S. District Court Magistrate Harry R. McCue.

The settlement approved on Monday included $1.2 million for plaintiffs’ attorney fees but no monetary award for Cubic shareholders who had sought unspecified compensatory and punitive damages.

The settlement was driven in part by the “unavailability of insurance coverage to satisfy a judgment” against the company, according to terms of the settlement.

As part of the agreement approved on Monday, Cubic agreed to have a “distinguished professor of corporate law” lecture its executives on “a director’s obligation to shareholders.”

Cubic also agreed to stage “regular presentations” to its employees about “ethical considerations in government contracting.”

The suit was filed in 1988, shortly after federal agents searched Cubic’s San Diego-based Defense Systems division during the ongoing “Ill Wind” investigation into procurement fraud in the defense industry.

No charges have been brought against Cubic or its executives in connection with that investigation. However, the settlement reached on Monday acknowledged the possibility that Cubic might seek a “compromise disposition” of the investigation.

No shareholders appeared at Monday morning’s hearing.