Kelly Rowland, Michelle Williams and Beyoncé Knowles pose with their then-manager Mathew Knowles in New York June 23, 2005. 
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Mathew Knowles is shooting down rumors that his eldest daughter, Beyoncé, is planning to take him to court over ownership of the Destiny's Child brand.

On Friday a story in In Touch Weekly stated that Beyoncé wanted rights to the name and was willing to take her father to court over it. In a statement to ET, Knowles said that the rumors are just that and are untrue.

"These dangerous rumors defame my family name," Knowles said. "They have no validity and hold no merit."

"There are many other important topics needing America's attention," he added. "No one needs more unnecessary negativity. Media like this needs to get on higher ground. I, for one, am focusing on lectures and seminars that help people achieve something positive and achieve better lives."

In addition to the lawsuit rumors, In Touch Weekly stated that Beyoncé wanted to sue her father because he won’t let the group perform using the name unless he receives payment. According to the U.S Patent and Trademark office, Knowles is the rightful owner of the Destiny's Child name.

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Earlier this year, Knowles hinted at a possible Destiny’s Child reunion in an interview with Billboard.

"I still manage the ladies," Knowles stated, "and I’m hopeful that within the next two to three years we’ll see something major come from it."

In the meantime, Knowles is busy working with upcoming all-female rap group Blushhh.