Meryl Streep strikes back on Chanel creative director, Karl Lagerfeld after he accused her of dropping his label for a new one. According to the German designer, the decorated actress suddenly opted out from wearing his creation for another brand that would pay her to wear her dress at this Sunday's Academy Awards.

After the story had people buzzing for Lagerfeld's claims, Streep finally came out addressing the situation. "Karl Lagerfeld, a prominent designer, defamed me, my stylist and the illustrious designer whose dress I chose to wear, in an important industry publication," she said Saturday via a statement that was picked up by the Los Angeles Times.

" The story was picked up globally, and continues, globally, to overwhelm my appearance at the Oscars on the occasion of my record-breaking 20th nomination, and to eclipse this honor in the eyes of the media, my colleagues and the audience,"  Streep added referring to her Oscar nod for her work in last year's "Florence Foster Jenkins" film. Finally, the decorated thespian sent a strong message to Lagerfeld demanding him to not just take back but also apologize for lying. Lagerfeld, however, has yet to issue another statement answering Streep's side of the story.

Speculation has it, however, that the real reason that the veteran actress pulled out from wearing Chanel at this upcoming Oscars is that the French label and Lagerfeld also dress up current First Lady Melania Trump. Mrs. Trump was recently spotted wearing a custom Lagerfeld cashmere combo of skirt and jacket when she and her husband welcomed the Israeli Prime Minister to the White House almost two weeks ago.

It is no secret that Streep and President Trump had a little back and forth earlier this year after the 67-year-old called out the President for his unethical actions against those less-privileged compared to him. Trump, then, took it his official Twitter account and called Streep an "over-rated" actress which only fueled the fire between them.