Jada Pinkett Smith said she and husband Will Smith plan to take “legal action” over the recent claim

Will Smith and Jada Pinkett Smith laughed off a recent rumor about his sexuality.

After a claim about Will and actor Duane Martin having a sexual relationship made rounds on social media this week, a rep for Will said in a statement, “This story is completely fabricated and the claim is unequivocally false.”

The allegation was made on Unwine with Tasha K by Brother Bilal, who claimed that years ago he walked in on Smith, 55, and Martin having sex. (Cardi B previously won a defamation lawsuit against the YouTuber LaTasha Kebe, aka Tasha K.)

Jada, 52, addressed the rumor while on The Breakfast Club in an episode that debuted Thursday: “Let me just say this: It’s ridiculous, right? And it’s nonsense.”

About how Will reacted to Brother Bilal’s claim, Jada said her husband is “always gonna find the funny,” adding that she and Will “laughed about it.” “You have to because it’s absolutely ridiculous, you know what I’m saying. So all you have is, you just gotta laugh about it. And it’s unfortunate,” she said.

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“He was like, ‘Do you believe this s—?’ ” she said. “But we just laughed about it.

Jada said Brother Bilal “tried a shakedown, a money shakedown, that didn’t work. We’re gonna take legal action. Because it’s one thing to have your opinion about somebody, versus just making up salacious, malicious stories. So that’s actionable. So we gon’ roll with that.”

Brother Bilal did not respond to PEOPLE’s request for comment.

Will Smith and Jada Pinkett Smith Deny Claims He Slept With Duane Martin: ‘It’s Ridiculous and It’s Nonsense’

Will Smith and Jada Pinkett Smith on Feb. 27, 2022.

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A source close to the Smith family tells PEOPLE that Will and Jada — who mark 26 years of marriage next month — have “dealt with and ignored innuendo and homophobic rumors for years.”

“Will and Jada are united that this is just another person trying to use their fame for advancement. They will sue him,” the source adds.

Jada Pinkett Smith on Nov. 12, 2023.

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Jada, in her recently released book Worthy, commented on speculation about her and Will’s sexuality over the years.

She said she could only “sit back and shake my head” as it “got so ridiculous” with people claiming “we were both gay and playing as each other’s beards, or that we were sleeping with whomever we chose, whenever we chose to.”

“There have always been rumors that I’m gay — that I like women,” wrote Jada. She added that she “had a few sexual experiences with women, only to realize that when it comes to sex, I love men.”