A manslaughter charge is being dropped against the only company charged in the fatal Big Dig tunnel collapse after the New York epoxy makers agreed to pay millions to settle a lawsuit.

The attorney general's office called a news conference for Wednesday afternoon to announce what it called a resolution of the case against Powers Fasteners of Brewster, N.Y.

Powers was charged with manslaughter after the July 2006 death of Milena Del Valle for providing the epoxy blamed in the collapse.

A person close to the negotiations tells The Associated Press prosecutors have agreed to drop the criminal charge after Powers agreed to pay millions to settle a civil complaint. The company would have faced only a $1,000 fine for a manslaughter conviction.

The attorney general's office would not immediately confirm the terms, but said the agreement resolved both the criminal and civil complaints.