The Scottish Sun reported that the Celtic boss would be having "showdown talks" with former team-mate Thompson on Friday morning.
However, ahead of Saturday's William Hill Scottish Cup fifth-round tie at Inverness, Lennon said: "It is a nothing story. One of my staff and Allan McGregor frequent the same pub. Wow."
He added: "The media are the ones who say that more should be done to put away the sectarian element and I have been there myself when Allan has been in and had his company for 15, 20 minutes.
"It is a very difficult thing to do in Glasgow sometimes but there is total respect between Alan and Allan.
"I don't know the whole story of went on that night but it is very difficult for Celtic and Rangers players to socialise with each other in the city. But it happens every now and again and now all of a sudden one of the tabloids want to make a whole big thing about it.
"It only stirs it up, in my eyes that is what they are basically trying to do, stir up some sort of controversy that isn't really there. I think it is disgusting."
Lennon confirmed striker Mo Bangura will be out for the rest of the season following knee surgery.
The Irishman said: "He had a scan and it revealed he needed the surgery. The surgery was a success but he will be out for 12 to 16 weeks.
"It is unfortunate for him and possibly the reason he hasn't recaptured his form, maybe it was hampering him a little bit."
Source: PA
Source: PA