NEW YORK — Minor league players and Major League Baseball have reached a settlement in a lawsuit alleging teams violated minimum wage laws.

The settlement has not yet been filed with the court and details were not released Tuesday.

The suit, filed in 2014, had been scheduled for a trial starting June 1 in U.S. District Court in San Francisco.

A letter filed with the court on Tuesday by lawyers for both sides asked Chief Magistrate Judge Joseph C. Spero to postpone a conference scheduled for Tuesday and the trial.

“The parties are pleased to inform the court that they have reached a settlement of the matter in principle,” the letter said. “The parties have agreed upon a confidential memorandum of understanding. The settlement is subject to ratification by the respective parties, and we are in the process of preparing the settlement documents.”

The letter was signed by Elise M. Bloom of Proskauer Rose on behalf of MLB; and by Clifford H. Pearson of Pearson, Simon & Warshaw and Stephen M. Tillery of Korein Tillery on behalf of the players.