A federal judge has formally dismissed two legal actions brought against wheeled footwear company Heelys, after the company settled the claims out of court.

Heelys stressed that the company had not admitted any liability or wrongdoing in the settlements of the claims, which related to the company's 2006 initial public offering.

"Although the company continues to believe that the claims asserted in these lawsuits were without merit and that defendants would have prevailed at trial, we are pleased to have resolved these claims and to continue to focus on Heelys' business initiatives," said Heelys chairman Gary L Martin.

Heelys incurred charges of US$3.6m related to the litigation, which were included in the company's second quarter results released in August this year.