What is the abuse of discretion test for denying a settlement agreement?

We review the district court's denial of a settlement agreement under an abuse of discretion standard. See S.E.C. v. Wang, 944 F.2d 80, 85 (2d Cir. 1991). A district court abuses its discretion if it "(1) based its ruling on an erroneous view of the law," (2) made a "clearly erroneous assessment of the evidence," or (3) "rendered a decision that cannot be located within the range of permissible decisions." Lynch v. City of New York, 589 F.3d 94, 99 (2d Cir. 2009) (internal quotation marks omitted).