Tom Petty has released a statement commenting on the story this week that he had received royalties from Sam Smith.
It was revealed that Petty and ELO's Jeff Lynne had received royalties from Sam Smith due to the similarities between his breaktrough hit Stay with Me and Tom Petty's 1989 track I Won't Back Down.
The Sun reported that the matter was settled out of court in October 2014.
Petty has now commented on the story, posting a statement on his website which read: "About the Sam Smith thing. Let me say I have never had any hard feelings toward Sam. All my years of songwriting have shown me these things can happen. Most times you catch it before it gets out the studio door but in this case it got by.
"Sam's people were very understanding of our predicament and we easily came to an agreement. The word lawsuit was never even said and was never my intention. And no more was to be said about it. How it got out to the press is beyond Sam or myself.
"Sam did the right thing and I have thought no more about this. A musical accident no more no less. In these times we live in this is hardly news. I wish Sam all the best for his ongoing career. Peace and love to all."
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