Greg's case was entirely dependent on his GFM being successful and getting the $75,000 he was shooting for. He would have been willing to keep going because his pay pigs were funding the suit. According to a tweet he made month or so ago Randazza and Wohlman had already put in $20,000 worth of work and he was probably looking at a nice chunk for arguments.
So Greg is staring at a dead GFM that raised $10,500 ($3,600 of which is likely a shill donation with recycled money) and Marc Randazza doesn't seem like the type of guy to just forgive tens of thousands in legal fees. The slam dunk case isn't looking so good anymore and there's a very real chance it could be dismissed and SCV could go after him for their legal fees unless he agrees to drop his case. Not to mention Randazza probably wanted to know how Greg planned on paying to continue his suit because the GFM money dried up a while ago. Greg cut his losses and will be making monthly payments to Randazza for a while.