[ALSO READ: How Prince Concealed His Addiction: Aspirin Bottles of Opiates]

Dr. Schulenberg admitted no liability as part of the settlement and has maintained he did not prescribe drugs to anyone with the intention they be redirected to Prince. His lawyer said in a statement that Dr. Schulenberg “is not a target in any criminal inquiry and there have been no allegations made by the government that Dr. Schulenberg had any role in Prince’s death.”

Mr. Metz said on Thursday that the pills prescribed by Dr. Schulenberg did not lead to Prince’s fatal overdose. “The bottom line is we simply do not have sufficient evidence to charge anyone with a crime in relation to Prince’s death,” he said.

Members of Prince’s family who attended the news conference declined to comment on the decision. A representative for the family, John Goetz, said of the investigators, “They certainly dug deep and tried hard.” He added that the family had not ruled out filing a wrongful-death lawsuit.

In addition to Dr. Schulenberg, investigators had focused on doctors and medical personnel who were trying to treat Prince for an apparent painkiller addiction, as well as Mr. Johnson, an employee of the musician since the 1980s, according to court documents released last April.