According to several reports, the explosive lawsuit filed by Perry Ellis' senior executive has been placed in an amicable settlement. The fashion brand was in hot water when its COO allegedly made racist and homophobic remarks regarding the brand's advertisements.

Perry Ellis, the high fashion brand known for its classy collections for men and women, as well as its perfumes, recently made legal headlines when a lawsuit filed by its senior executive, Joseph Cook, allegedly states that its COO, Oscar Feldenkreis told him back in 2013 that he should make sure that there are "no blacks in my ads," and that he "did not want anyone who looked too gay."

According to the New York Post, Cook has already resigned from his position as senior executive on "his own," and that the lawsuit has been settled.

"Perry Ellis is a diverse and inclusive company, and has always been so. My overall tenure at the company demonstrates that the comments I complained about are not reflective of the overall culture of Perry Ellis, the character of its leadership, or the Feldenkreis family," said Cook in a statement published by the New York Post.

Cook, who is openly gay, filed the lawsuit in Manhattan Federal Court and states that Feldenkreis shamelessly wanted gay and black people out of advertisements. Feldenkreis is expected to step into his father's shoes, George, as the high-end brand's CEO.

According to a report by the New York Daily News, Cook was also ill-advised by Feldenkreis back in June that he can get out of jury duty by "telling them you hate ni----s and f-s,"

"I am deeply saddened as a gay man and someone who has always been proud of who I am no matter my color or sexual orientation that a company executive could be so intolerant of others," said Cook in a statement released by his lawyer, Douglas Wigdor, as posted by the New York Daily News.

The Feldenkreis family had denied all allegations of the comments made.