NEWSFLASH!! Lee Daniels can rest a bit easier now that he’s paid up his debt to Damon “Dame” Dash.

If you recall, the movie director was SHOOK when the hip-hop mogul pulled up on him at at Diana Ross concert and confronted him about a $2 million investment Dame made into Lee Daniels budding career back in 2004.

[READ: On Blast! Dame Dash Publicly Confronts Lee Daniels Over $2 Million Dollar Loan… (VIDEO)]

Daniels has apparently paid up so Dash has dropped his $5 million dollar lawsuit.

Details below…

According to The Blast, Dash recently dropped his $5 million legal battle against Lee Daniels, and it definitely seems like Dash got at least some of the cash he was owed!

On November 26, Dash filed court documents in New York revealing that he and Daniels have reached an agreement to discontinue all claims with prejudice, meaning the lawsuit cannot be refiled in the future.

Each party will pay their legal bills and the case will be closed once and for all.

Dash said Daniels did not make an effort to fulfill his obligations, and had been kept in the dark about the details of production and the progress of the film. He felt the alleged lack of communication and compliance on Daniels part fit the bill for a breach of contract.

The suit also claimed Daniels tried to change the settlement agreement through “threats of criminal prosecution.”

Back in 2014, Dash sued Daniels for $25 million over their dispute involving the ownership rights to ‘Precious’, ‘The Butler’ and the television show ‘Empire’. The music mogul claimed to have loaned the director $2 million in 2004, in exchange for rights to certain films.

I could have predicted this outcome! Of course Lee Daniels was gonna settle up with Dame Dash… he didn’t want that smoke!

[Never Forget: Lee Daniels Apologizes to Dame Dash, Calls Mo’Nique Disrespectful & ‘Out of Pocket’… ]

But I digress.

What are your thoughts about this situation?