Jordan, Peter Andre Settles Libel Case Against Tabloid

U.K. celebrity couple Peter Andre and Katie "Jordan" Price have settled the libel lawsuit they had filed against a British tabloid.

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Last February, News of the World had published an article based on an interview with the couple's former nanny, Rebecca Gauld, claiming they were bad parents who neglected their children.

Attorney for the duo, Mike Brookes, told the court, "In general terms, the article portrayed the claimants as shocking and uncaring parents who put their own needs above those of their children, and who are so reckless that they even endanger their children's health and welfare."

Price, who would not reveal the amount of the settlement, read a statement outside the court, "Pete and I love our kids and would do anything for them."

"Anyone who has kids can imagine how it would feel to be accused publicly of being bad parents. We came here today to see that justice was done and that our names were cleared."

"Now that the paper has accepted the story wasn't true, apologized to us, and paid us damages and our costs, we believe the record has been straight and our names have been cleared."

They plan to donate 50 percent of the damages payment to charity and the other half to their children's trust.