According to reports, the decision comes after a June 2005 ruling by the 2nd U.S. Circuit Court of Appeals, which found that TVT’s claims of unsavory business tactics, including the charge of fraud, were without merit.

The lawsuit stems from allegations made by TVT, which accused IDJMG and Lyor Cohen of unsavory business tactics and fraud, over an unreleased album by Ja Rule’s group Cash Money Click.

According to court records, TVT claimed that IDJMG and Cohen sabotaged the Cash Money Click album by blocking the release as not to interfere with Ja Rule’s Def Jam release, which was scheduled to be in stores around the same time.

In March of 2003, a jury awarded TVT $132 million in punitive and compensatory damages against IDJMG, finding Cohen personally responsible for $56 million in damages. That award was overturned in 2003 and Cohen’s punitive damages were cut from $56 million dollars to $3 million, while IDJMG was ordered to pay $50 million dollars.

TVT was eventually awarded $126,720 for a breach of contract claim, which IDJMG and Cohen did not appeal. Cohen has since left IDJMG and is now Chairman and CEO of Warner Music Group, responsible for all aspects of WMG’s U.S. recorded-music operations.