Sean "Diddy" Combs has dropped a lawsuit against spirits giant Diageo in which he claimed it had not made promised investments in his DeLeón Tequila and Cîroc Vodka because of his race.
"Sean Combs and Diageo have now agreed to resolve all disputes between them," Diageo and Combs said in a joint statement obtained by FOX Business on Tuesday. "Mr. Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against Diageo with prejudice."
The statement said Combs no longer has a relationship with Diageo "either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns."
In his lawsuit, Combs accused Diageo of limiting its promotion of Cîroc and DeLeón to "urban" areas because of his race.
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Diageo denied the allegations in the lawsuit after it was filed last summer.
"This is a business dispute, and we are saddened that Mr. Combs has chosen to recast this matter as anything other than that," Diageo said in a statement at the time. "While we respect Mr. Combs as an artist and entrepreneur, his allegations lack merit, and we are confident the facts will show that he has been treated fairly."
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The decision comes two months after Combs' ex Cassie accused him of sexual abuse, trafficking and rape in a lawsuit, which the rapper settled the next day.
Three more women have since accused him of sexual abuse and rape.
Combs vehemently denied the claims in a December Instagram post, writing, "Enough is Enough. For the last couple of weeks, I have sat silently and watched people try to assassinate my character, destroy my reputation and my legacy. Sickening allegations have been made against me by individuals looking for a quick payday."
He added, "Let me be absolutely clear: I did not do any of the awful things being alleged. I will fight for my name, my family and for the truth."
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In December, Combs also temporarily stepped down as chairman of Revolt, the hip hop network he founded.
