An American who was once held hostage in Iran settled a $60 million libel suit with the former owners of the Daily News of Los Angeles, which had reported he was under investigation for drug trafficking.

Jerry Plotkin, one of the Americans held for 444 days in the U.S. Embassy in Tehran in 1979 to 1981, did not disclose the terms of the settlement, but said he received enough to "compensate me for the substantial damages I have suffered."The Daily News story appeared Jan. 21, 1981, one day after Iran freed 52 American hostages after one year and 79 days in captivity. The story quoted unidentified law enforcement sources.