In December 2015, Paramore announced that Davis had parted ways with the group, leaving – at the time – Hayley Williams as the band's lone original member. Three months later, Davis sued his former bandmates, with the bassist arguing that he had been omitted from songwriting credits and their respective royalties from the band's self-titled album, which included the 2013 hit "Ain't It Fun."
Davis also claimed he was a partner in Paramore's Varoom Whoa, the band's business entity owned by Williams. The band, however, argued that Davis was simply an employee and not eligible for royalties from sales, merchandising and touring, the Tennessean reports.
Prior to Paramore's tour-opening hometown gig in Nashville Thursday, the band's lawyer said that "everything has been resolved and settled" with regard to the lawsuit. Terms of the settlement were not revealed and a rep for the band did not immediately reply to a request for comment.
Davis' exit marked the second time band members have left Paramore under less-than-cordial terms; in interviews following his departure, Davis accused Williams of "backstabbing" him.
In 2010, brothers Josh and Zac Farro acrimoniously left Paramore. However, seven years healed old wounds as Zac rejoined the band for After Laughter.
In other Paramore news, the Strokes-covering band announced their third annual Parahoy! Festival aboard a cruise ship will take place April 6th to 10th, 2018. The cruise will feature an acoustic mini-set, a Q&A session, karaoke with the band and more.