BOSTON — Massachusetts Water Resources Authority‘s board of directors has approved a $3.1 million settlement of a lawsuit resulting from the massive 2010 water main break in Weston.

MWRA officials said Wednesday that the settlement with design consultants, contractors and component suppliers covers virtually all the costs to repair the pipeline, and retrieve and study the coupling components.

The settlement also covers site restoration costs for the bank and channel bed of the Charles River where the break occurred.

MWRA executive director Fred Laskey called the settlement “very reasonable” and said the goal was to “make our ratepayers whole.”

The water main break led to a boil water order for about 2 million residents.

The panel investigating the break found the most likely cause was the failure of bolts that held together two sections of the 10-foot-wide pipe.