Content warning: This story discusses sexual assault and abuse.
The news was announced Nov. 17, a day after she sued the rapper in a New York court for alleged sexual assault, battery, sex trafficking and subjecting her to a hostile work environment.
"I have decided to resolve this matter amicably on terms that I have some level of control," the singer, full name Cassandra Ventura, said in a statement to NBC News. "I want to thank my family, fans and lawyers for their unwavering support."
Her lawyer, Douglas Wigdor, added, "I am very proud of Ms. Ventura for having the strength to go public with her lawsuit. She ought to be commended for doing so."
Diddy, who also goes by the name Love, said in his own statement to the outlet, "We have decided to resolve this matter amicably. I wish Cassie and her family all the best. Love."
His lawyer, Ben Brafman, also told E! News in a statement, "Just so we're clear, a decision to settle a lawsuit, especially in 2023, is in no way an admission of wrongdoing. Mr. Combs' decision to settle the lawsuit does not in any way undermine his flat-out denial of the claims. He is happy they got to a mutual settlement and wishes Ms. Ventura the best."
Diddy, 54, and Cassie dated on and off for almost a decade before they split in 2018. In her Nov. 16 lawsuit, she accused him of physical and sexual abuse throughout their relationship.
In her complaint, obtained by NBC News, Cassie, 37, alleged she was "lured" into dating Diddy, who she called a "vicious, cruel, and controlling man," after signing with his record label. She cited fear of repercussions for an album deal if she rejected his advances and alleged that throughout their relationship, he "punched, beat, kicked and stomped on" her and forced her to engage in sex acts with male sex workers. She also stated in the lawsuit that in 2018, the two met for dinner to discuss breaking up and that Diddy allegedly later "forced himself into her apartment" and raped her.
"After years in silence and darkness, I am finally ready to tell my story, and to speak up on behalf of myself and for the benefit of other women who face violence and abuse in their relationships," she said in a statement to NBC News Nov. 16. "With the expiration of New York's Adult Survivors Act fast approaching, it became clear that this was an opportunity to speak up about the trauma I have experienced and that I will be recovering from for the rest of my life."
Diddy's attorney later told E! News in a statement, "Mr. Combs vehemently denies these offensive and outrageous allegations. For the past six months, Mr. Combs has been subjected to Ms. Ventura's persistent demand of $30 million, under the threat of writing a damaging book about their relationship, which was unequivocally rejected as blatant blackmail. Despite withdrawing her initial threat, Ms. Ventura has now resorted to filing a lawsuit riddled with baseless and outrageous lies, aiming to tarnish Mr. Combs' reputation and seeking a payday."
E! News previously reached out to reps for Cassie for comment but hasn't heard back.
(E! and NBC News are part of the NBCUniversal family.)