Knight's attorney, Marc Brumer, says the two sides did not reach an agreement during Thursday's meeting in Miami, which West attended by phone. The attorney says the case will likely go to trial.
Knight is seeking more than $1 million in damages from West and his companies. Knight was shot in the leg at a 2005 Miami Beachparty hosted by West, whom Knight blames for lax security.
The shooter has never been identified, and the case is unsolved.
West's attorney, Adam Josephs, said he couldn't comment on the case.