The biopic, which flashes back and forward in time with both Mojean Aria and William Forsythe playing boxer Jake LaMotta, will now be titled The Bronx Bull.
MGM, who own the rights to Martin Scorsese and Robert De Niro's boxing classic, filed a lawsuit against the film in July to block its release. The studio claimed that it should have been given first refusal on the movie rights to LaMotta's 1986 follow-up book.
Both parties have now reached an agreement on the film.
"The parties have amicably reached a resolution of their pending litigation, pursuant to which production of a film based upon certain events in the life of Jake LaMotta will proceed under the working title The Bronx Bull," said MGM and the film's producer Dahlia Waingort in a joint statement.
"That film is not related in any way to the 1980 motion picture entitled Raging Bull, and MGM is not associated with the film in any respect. Neither party will have any further statements regarding this matter."
Martin Scorsese and Robert De Niro have no involvement in The Bronx Bull, which recently finished shooting in Los Angeles with Tom Sizemore and Penelope Ann Miller among the cast.
Photo gallery - 20 sequels that never should have happened: