The hip-hop star, real name Dwayne Carter, Jr., hit headlines in January (15) when he launched legal action against his longtime mentor in a Big Apple court, seeking the termination of his contract amid accusations Williams and his label co-owner, Ronald 'Slim' Williams, had withheld millions they allegedly owed the Lollipop hitmaker for his long-delayed album, Tha Carter V.

On Monday (06Apr15), Wayne sparked speculation the two parties had secretly settled the dispute after his lawyer, Michael B. Kramer, filed a notice of voluntary dismissal, but his representative has since spoken out to clear up the confusion, insisting the case is far from over.

Instead, another of Wayne's lawyers, Ron Sweeney, tells Rolling Stone they agreed to drop the New York action because the Williams brothers were preparing to challenge the location of the suit, so they decided to save time and money and simply withdraw the papers so they can fight it out in a court in Louisiana, where Wayne originally signed his Cash Money contract in 1998.

A statement issued to the publication reads: "Lil Wayne and (his label) Young Money LLC have entered into a stipulation with Cash Money the effect of which is to transfer the claims raised in the action which had been commenced in the United States District Court for the Southern District of New York to the Federal and/or State Courts of Louisiana.

"The claims previously asserted by Lil Wayne and Young Money LLC against Cash Money for substantial monies owed and breach of fiduciary duty have not been settled and will be prosecuted in Louisiana as expeditiously as possible."

Wayne has made it clear he is still angry with his Cash Money bosses - at the end of a club gig in Jacksonville, Florida on Thursday (02Apr15), the rapper told the crowd his Tha Carter V album is "coming soon", before adding, "F**k Cash Money!".