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Former New York Yankee Joe Pepitone drops lawsuit against Baseball Hall of Fame over Mickey Mantle's 500th home run bat

ALBANY, N.Y. -- Former New York Yankees star Joe Pepitone has dropped his lawsuit against the Baseball Hall of Fame that sought the return of a Louisville Slugger bat that Mickey Mantle used to hit his 500th career home run.

David M. Barshay, a lawyer for Pepitone, filed a notice of voluntary dismissal on Monday in U.S. District Court in Albany.

Pepitone had filed the suit in July, seeking compensatory damages of at least $1 million. The bat is currently valued at over $500,000, he claimed.

The suit alleged Pepitone agreed to lend the bat to the Hall of Fame "with the understanding and upon the condition that it would be returned to him at any time upon his request.