Independent News and Media has apologised and is to pay damages to John Brown, the brother of Dana Rosemary Scallon.
The High Court heard that two separate defamation actions taken by Mr Brown against the Irish Independent and the Sunday World had been settled.
Counsel for Independent News and Media, Brian Gageby, read two apologies from the Irish Independent and Sunday World to the court today.
The apology from the Irish Independent said that on 7 June 2013 it had wrongly reported that a bench warrant had been issued for Mr Brown's arrest.
It said "no such warrant was ever issued" and that Mr Brown had attended all court appearances as required and was subsequently acquitted of all charges.
The report had been published at a time when Mr Brown was facing historical charges of indecent assault, of which he was later acquitted.
It apologised to Mr Brown for the "distress and harm caused to him and his family".
In a separate apology from the Sunday World, it said that false allegations were published about Mr Brown on its website and on its Facebook pages on 10 July 2014.
The apology continued "the groundless allegations defamed Mr Brown and reflected very badly on his character, good name and reputation".
It said it "unreservedly" withdraws the allegations and apologised to him and his family.
Both publications said they had agreed to pay Mr Brown damages and legal costs.
The case was settled for an undisclosed sum, that is understood to be substantial.
Judge Leonie Reynolds struck out the case with no further orders to be made.
Speaking outside the High Court, sitting at Croke Park, Mr Brown said today's settlement had finally brought the matter to a close after what he called a "long hard battle for seven years".
"To publish unfounded allegations based on untruths is probably the worst thing that anyone could have done against them. Fabricated newspaper articles is not good for the reader, and just because its in the news doesn’t mean to say that it’s true," he said.
Mr Brown said it was an "extremely emotional" day and that the publications had apologised and acknowledged the damage that was caused to him and his reputation.
He said that "vile" comments had been made on Facebook and that he and his sister Dana Rosemary Scallon had received death threats.
He said that in today's digital world, it takes a matter of seconds for something to go across the world.
His solicitor Brendan Kelly said they head taken on the "Goliath of Independent Newspapers" and had "brought them to task" and "set the record straight today".
"Most importantly, we have vindicated John Brown’s good name," he said.