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James Wiseman has withdrawn his lawsuit against Memphis and the NCAA. Wiseman is now awaiting a resolution from the NCAA.

Wiseman is a freshman at Memphis and a candidate to be the first overall pick in the 2020 NBA Draft.

Wiseman has been ruled ineligible for receiving improper benefits from Penny Hardaway before Hardaway was hired as head coach. Memphis has supported Wiseman's suit even while named as a defendant. The suit claims Wiseman didn't know about the money given to his family in the summer of 2017 to help with moving expenses. 

Via Shams Charania/The Athletic

Someone's giving the young man some good advice. Both the NCAA & Memphis know that he'd easily win millions with a defamation suit. Wiseman's could easily argue that Memphis' breaking of the rules and the NCAA ineligible ruiling severely hurt his endorsement earning potential.

There is almost no way a court would hold Wiseman(a legal aged adult) responsible for a deal that two separate adults brokered.

Gonna tell yall how this plays out....... The NCAA will reinstate Wiseman so that he can't sue them for them damages. But the NCAA will instead punish him by making his team ineligible for the postseason.