NEW JERSEY (Bloomberg) — Tyco International Ltd., the company that spun off its electronics and health-care divisions last year, agreed to settle a 2002 lawsuit with the state of New Jersey for $73.3 million that alleged fraud committed under previous management.

Tyco International will pay about $20 million, Tyco Electronics Ltd. will be responsible for $23 million and Covidien Ltd. will pay $31 million, the company said today in a filing with the Securities and Exchange Commission. The payment deadline is June 2.

Tyco last year settled about $3 billion in shareholder lawsuits stemming from the era under its now-jailed former Chief Executive Officer L. Dennis Kozlowski.

Former executives of Tyco overstated the company's income by $5.8 billion. Kozlowski is serving an eight- to 25-year prison term in state prison in New York.

The lawsuit was brought by New Jersey on behalf of several of the state's pension funds, the filing said.

Tyco spun off the electronics unit and Covidien in June and all three companies are publicly traded and based in Bermuda.