New York, June 16: Grammy award winning singer BeyoncÃ© Knowles has settled a $100 million lawsuit with videogame company Gate Five for allegedly backing out of a deal to create her own motion-capture dance game called - Starpower: BeyoncÃ©.
The 31-year-old singer has reached an agreement with the videogame company.
Lawyers for both sides signed an agreement dismissing "all claims or counterclaims" without legal fees and filed the papers in Manhattan Supreme Court here Friday, reports femalefirst.co.uk.
The gaming company's lawyer Peter Gallagher told the New York Post's Page Six: "We've settled amicably. I can't discuss the terms of the settlement, but it was resolved."
The singer reportedly dropped out of the deal last winter because she claimed that Gate Five had not secured the funding they had promised.
The company countered that the Grammy-winner, who has a 17-month-old daughter, Blue Ivy, with her rapper husband Jay-Z, ditched the deal on a whim and claimed it lost its nearly $7 million investment and 70 people lost their jobs.
The terms of the agreement were not disclosed.
Meanwhile, the singer is set to kick off the US leg of her Mrs Carter Show world tour later this month.