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Disturbing Tha Peace CEO Chaka Zulu has issued a statement regarding a recent altercation between himself and chart-topping rapper T.I.

The incident took place yesterday (June 24), during a private luncheon in Hollywood, CA that was hosted by Kevin Liles, who is executive vice president of Warner Music Group, T.I.’s parent label.

T.I. and Chaka Zulu exchanged words during an argument, which turned physical, when T.I. allegedly punched Zulu.

“It’s a shame that things like this continue to happen especially with the backdrop of an event that was about benevolence and charitable works,” Chaka Zulu said. “I’m thankful that all issues have been resolved.”

Both Atlanta-bred rappers have a history of squabbling with each other.

The two have released diss records aimed at each other in the past.

Tensions flared again recently, when T.I. expressed his opinion that his album King should have won the Grammy for Rap Album of the Year in 2006 as opposed to Ludacris’ album Release Therapy, which won the award.

In related news, Ludacris has signed on to star opposite Gerard Butler, Tom Wilkinson and Thandie Newton in an upcoming crime movie titled RocknRolla, which is directed by Guy Ritchie.

Ludacris will star in the mob flick as an American artist attempting to break into the United Kingdom’s music scene.

The movie centers around a Russian mobster who executes a crooked land deal, that leaves millions of dollars up for grabs for London’s underworld.

RocknRolla is being shot on location in London, England.

The movie is produced by Dark Castle Entertainment (Gothika, House of Wax, Thir13en Ghost) and distributed by Warner Bros. Pictures.