Ribeiro's lawyers filed documents Thursday in federal court in Los Angeles saying he's voluntarily dismissing the suit against North Carolina-based Epic Games.
No reason was given, and Ribeiro's lawyer did not immediately reply to a request for comment.
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The actor had already dropped a similar suit against Take-Two Interactive, makers of the video game NBA2K16.
The suits received a serious blow last month when federal officials denied Ribeiro a copyright of the "Carlton."
Ribeiro's nerdy, arm-swinging dance, usually to Tom Jones' "It's Not Unusual," was popularized through his character, Carlton Banks, on the 1990s sitcom.