Sean "Diddy" Combs and Diageo said Tuesday they have broken ties and settled the music mogul's accusations that the spirits giant neglected his vodka and tequila brands. Mr. Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against Diageo with prejudice." Diageo and Combs added that they have "no ongoing business relationship, either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns." In November, Diageo filed a letter aiming to prevent Combs from appearing in DeLeon tequila ads after the singer Cassie accused him of rape and abuse. Cassie and Combs settled the singer's lawsuit that month, only a day after she filed it.

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Persons: Sean, Diddy Combs, Debra Kelly Ennis, Guy Smith, Diddy, Stone Rose, Combs, DeLeon, Cassie, Don Julio, Johnnie Walker Organizations: Diageo, Diageo North, Stone, Time Warner Center, New York Supreme, Combs, CNBC PRO Locations: Diageo North America, New York City, London, New York, Manhattan