Story highlights The pair released a joint statement

Hall will be dropping his law suit

(CNN) Sinead O'Connor has apologized for saying Arsenio Hall supplied the late singer Prince with drugs.

The singer and the comedian released a joint statement to CNN on Thursday.

"Arsenio Hall and Sinead O'Connor announce that Sinead has retracted and apologized for statements she made about Arsenio last year, which prompted his defamation lawsuit against her, and the lawsuit has been resolved," the statement said.

O'Connor accused Hall, who was friends with Prince, of giving him drugs.

"Two words for the DEA investigating where Prince got his drugs over the decades ... Arsenio Hall," O'Connor wrote in a Facebook post back in May that she later deleted. "Anyone imagining Prince was not a long time hard drug user is living in cloud cuckoo land."

Read More