The terms of Wednesday's settlement were not disclosed. Both sides say in a statement the deal indicates no admission of liability by either party.
Zdenek Philip Hodousek of Mission Viejo sued in Superior Court last summer seeking unspecified damages.
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He says he was eating Easter brunch with his family when he bit into the condom.
The company says it found no evidence of a foreign object in the soup or that there was any employee involvement or wrongdoing.
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