Seagate made good on their promise to sue SSD manufacturers when they filed against STEC in early 2008. Seagate's goal was to secure a victory that could lead them to greater rewards, such as licensing agreements with any other company that manufactured solid state drives. But STEC wasn't prepared to lie down and a legal battle ensued. By the way, this was also before Seagate decided to change their strategy and started selling SSDs themselves, whereas they had claimed earlier that the SSD market was too insignificant to pay attention to.
In yet another change of scenario, it seems that Seagate and STEC have come to point where neither company wants to continue their legal battle and both have dropped the claims against each other.
Rather than the result of behind closed doors meetings, Seagate claims the decision is due to the current "economic conditions" and that they may sue again in the future (if financially viable).