YouTube star Michelle Phan has settled her dispute with Ultra Records.

Ultra alleged that Phan (pictured) had received millions of dollars from her videos without paying anything for exploitation of its sound recording and publishing rights.

Phan claimed, however that she had approached Ultra's legal team to use their music in exchange for an iTunes link and credit in her videos, and that permission under these conditions had been granted.

Ultra's lawyers, however, said that no such licensing ...