Wonder why they waited two years ?
It is not unusual, and in fact very usual, for negotiations to take two years or more. As the statute of limitations approaches the plaintiff has to file the lawsuit or lose the capacity to bring the action at all. You are just hearing about the lawsuit being filed, but not any contact or negotiations that occurred before it was filed.
Sadly, and this is a little known nasty fact about lawyers, attorneys will deliberately evade settlement until the lawsuit is filed. They get a third of the settlement if it's settled before a lawsuit is filed, but 40% after a lawsuit has been filed.