Schwimmer filed the lawsuit last year over statements Tonken made claiming the former "Friends" star demanded two Rolex watches to attend his own charity event.
Tonken, who is serving a prison sentence of more than five years for unrelated charges of defrauding charities of hundreds of thousands of dollars, has retracted the statements and apologized to the actor, according to Schwimmer's publicist, Ina Treciokas.
"I feel vindicated by the judgment," Schwimmer said in a statement. "I am pleased that Aaron Tonken has set the record straight and admitted that his statements about me ... were untrue."
A phone message left for attorney Alan Rubin, who represented Tonken in the criminal case, was not immediately returned Friday.