Teledyne Technologies Inc. will pay $20 million of a $26 million settlement to the family of a North Carolina real estate developer and his wife who were killed in the 1999 crash of a private plane equipped with an engine manufactured by the L.A.-based company, Bloomberg News reported.

The family of David Drye and his wife, Ann, alleged that flaws in the engine of a 1977 Cessna caused it to crash in Concord, N.C., shortly after takeoff. The settlement was reached during trial in state court in North Carolina, which was filed with the court Dec. 16, according to Bloomberg.

Teledyne will pay $20 million and other defendants will pay nearly $6 million, family attorney Gary Robb told Bloomberg. The family had been seeking up to $100 million in damages.

Teledyne wouldn’t confirm or deny the amount of the settlement, and settled to avoid additional costs of litigation.

The Drye family said the plane crashed because an engine component failed, cutting power to one engine. The component, which was made by another company that also settled, is on more than 1,000 engines made by Teledyne. The component is now subject to periodic inspections, Bloomberg said.

Teledyne shares fell 4.1 percent to settle at $28.48 on Monday.