The 42-year-old hip-hop star recently filed a USD 1.5 million lawsuit against Mike Shand over a dispute relating to the New York City branch of the rapper's 40/40 bar and restaurant chain, reported New York Post online.
Shand's lawyer, Vik Pawar, has now revealed the legal action has been dropped, but the cook is considering a lawsuit of his own.
"We still may sue the club for defamation of character and for the return of his possessions, including his laptop, which the club still has," Pawar said.
Shand, who previously organised food for both Jay-Z and his wife Beyonce Knowles on tour, reportedly incurred the wrath of the star and his business partner over allegations he refused to hand over the secret recipe to his spice mix.