Philando Castile's family reaches $3 million settlement in death

The mother of Philando Castile has reached a nearly $3 million settlement with the City of St. Anthony, Minnesota in his death. Castile, 32, was shot and killed by St. Anthony police officer Jeronimo Yanez during a July 6 traffic stop in Falcon Heights.

The settlement was announced Monday in a joint statement from the attorneys representing Valerie Castile and the City of St. Anthony.

“No amount of money could ever replace Philando,” Castile and the city said in a joint statement. “With resolution of the claims the family will continue to deal with their loss through the important work of the Philando Castile Relief Foundation.”

The settlement avoids what likely would have been a long and expensive process of a civil lawsuit that Valerie Castile planned to file in federal court. The settlement will be covered by the League of Minnesota Cities Insurance Trust. It requires state court approval.

The shooting of Philando Castile

Castile was fatally shot by Yanez during a traffic stop in Falcon Heights on July 6, 2016. The shooting garnered national attention when Castile’s girlfriend, Diamond Reynolds, streamed the aftermath of the incident on Facebook Live.

Castile told Officer Yanez he was armed, and he had a permit to carry. Dashcam video played in court and released to the public after the verdict shows the exchange between Castile and Yanez

Evidence file: Philando Castile shooting dashcam video released

New video: Daughter tells Diamond Reynolds, 'I don't want you to get shooted'

The acquittal of Officer Yanez

Officer Yanez was charged with manslaughter for Castile's death, as well as two felony counts of intentional discharge of a firearm that endangers safety for firing his weapon with Reynolds and her four-year-old daughter also in the car.  It was the first time in Minnesota history a police officer had been charged with fatally shooting a citizen.

After 27 hours of deliberations, a Ramsey County jury found Yanez not guilty on all counts.

Philando Castile's family left the courthouse with anger and tears, voicing their frustrations in a post-verdict press conference. WATCH

“The system continues to fail black people,” Valerie Castile said. “Because this happened with Philando, they’re coming for you, for you, for you, and all your interracial children. Y’all are next and you’ll be standing. you’ll be fighting for justice.”

Behind the verdict: Yanez trial juror explains difficult process of reaching verdict

Joint statement from City of St. Anthony Village and Valerie Castile, as trustee for Philando Castile