Iommi and Osbourne formed Black Sabbath back in 1968 along with bassist Geezer Butler and drummer Bill Ward. Osbourne was fired in 1979 and initially replaced by former Rainbow vocalist Ronnie James Dio. In 1997 the guys put their differences aside and Osbourne once again teamed up with the original lineup. The band is now on hiatus after last touring together in 2005.
The Prince of Darkness filed a suit against Iommi in May 2009 following a separate December 2008 trademark infringement lawsuit Iommi filed against Signature Network, a merch subsidiary of Live Nation. Osbourne had an issue with Iommi’s suit because it claimed that Osbourne, Butler and Ward had legally given up rights to the band’s name in the 1980s.
Osbourne’s lawsuit requested that Iommi hand over a 50 percent interest in the “Black Sabbath” trademark as well as unspecified damages and lost profits.
Although details weren't disclosed, on Tuesday Black Sabbath released the following statement bringing an end to the legal squabble:
“Ozzy Osbourne and Tony Iommi of the legendary heavy metal band Black Sabbath have amicably resolved their problems over the ownership of the Black Sabbath name and court proceedings in New York have been discontinued. Both parties are glad to put this behind them and to cooperate together for the future and would like it to be known that the issue was never personal, it was always business.”