Digital Insight Corp. settled on Monday arbitration claims connected with its 2003 purchase of Magnet Communications. Under terms of the settlement agreement, Calabasas-based Digital Insight recovered 119,834 of its common shares held in escrow since the Magnet acquisition closed in November 2003. Former Magnet stockholders receive the balance of the escrow. The settlement has no impact on Digital Insight’s income statement for the second quarter ended on June 30. Resolving the arbitration eliminates the potential distraction from Digital Insight’s focus on its business operations, the company said. Digital Insight is a leading online provider for financial institutions.