Chumash Indian activists, fighting to preserve ancient Indian artifacts on a site approved for development, settled their lawsuit against the city of Thousand Oaks and a developer Wednesday.
The California Indian Council-Chumash sued the city and Shapell Industries last month to stop a large development, Rancho Conejo, from being built on the former MGM Ranch.
The Indian group contended that the development would destroy one of the most significant archeological sites in the Conejo Valley. The site, 5,000 to 6,000 years old, may be a burial ground, Indian officials say.
The Chumash group agreed to drop the lawsuit in exchange for assurances by the city and the developer that the site will be preserved. Shapell also agreed to create a $50,000 scholarship fund for Indian students.