The fourth film's release date has been moved time after time and was most recently scheduled for 22 October.
However, the movie was yet again delayed until February last week, prompting many fans to speculate it may have something to do with Bam.
The 41-year-old was fired from the movie and has subsequently filed a lawsuit against star Johnny Knoxville, MTV, Paramount Pictures, and a number of others.
But Steve-O said Bam's legal action had nothing to do with the latest delay.
Speaking to TMZ, he said: "A lot of people speculate that it was because of Bam and his lawsuit, but no, it's just because of Covid.
"The comfort level for the public to go to movie theatres has dropped down."
He continued: "I tell you this man, I love Bam - I have no idea how he managed to get anybody to file a lawsuit.
"I've read it, and it's just absurd. I mean it's literally absurd... I shouldn't even say what I said, but I can tell you that the lawsuit is absurd."
It is reported that Bam is seeking millions of dollars in damages, claiming he was subjected to 'inhumane, abusive and discriminatory treatment' during the filming of the movie.
He said he was signed up for the fourth instalment of the movie franchise back in March 2020, however, one of the conditions of him being involved was that he had to undergo a 'Wellness Agreement', which meant he had to comply with daily drug testing.
The lawsuit alleges that 'while Margera was in a rehabilitation facility in 2019, Spike Jonze (his producer) and Knoxville (his co-star), accosted him and coerced him into signing the draconian programme'.
It reads: "Defendants went so far as to employ a doctor who Facetimed with Margera every morning to ensure Margera took the cocktail of pills that Paramount's medical team prescribed to him - pills that left him physically and mentally drained, depressed, and a shell of his former.
"Margera did not slip up. He followed the provisions of the Wellness Agreement to a tee, at great personal cost.
"Defendants' treatment of Margera exacerbated his mental health issues and led to suicidal thoughts."
In a statement released to the media, Margera said that he was deeply hurt by the experience and that he built the foundations for what fans around the world know as Jackass.
He said: "I am p****d off, angry, hurt, and shattered that Johnny, Jeff, Spike and the studios and producers ripped off my creativity, content and stunts to make this movie, fired me without justification and refuse to pay for my work.
"I created this franchise before any of these guys ever got involved."
Jackass Forever is now scheduled to be released on 4 February.
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