However, the deadline to claim your share is fast approaching.
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According to PC Magazine, the settlement affects people who owned original PS3 console, colloquially known as the "phat" Playstation 3 for its bulky size.
The settlement amounts to $65 per claim.
PC Magazine reports the original class action lawsuit concerns the original console's capability to allow users to install an alternate operating system other than what's included in the original packaging.
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A later firmware upgrade of PS3s put a halt to that capability, prompting the lawsuit.
To claim your share, a website has been set up to allow you to enter info related to the console. You are given the option of entering the console's serial number, the email that you registered with your Playstation Network account, or your username on Playstation Network.
The cutoff date for claims is on April 15. You can access the claims website here.
Filed claims will be verified, according to the website. You will be notified on whether you qualified.