Johnny Depp settles lawsuit against former managers

ABC/Randy Holmes(LOS ANGELES) — Johnny Depp has reached a settlement in his year-and-a-half-long legal battle with his former managers, the Management Group, a month before a scheduled August 15 trial.

“Johnny Depp is pleased to have achieved a settlement agreement with The Management Group following the legal action he took against the company in January 2017,” a spokesperson for Depp said in a statement obtained by Variety. “The lawsuit taken out against The Management Group — and the subsequent settlement — is a further demonstration that Johnny is determined to take firm action to protect his personal and artistic reputation in the interests of his family and his career.”

Depp sued The Management Group for more than $25 million he claimed they mismanaged his personal finances. The company handled his finances from 1999 until early 2016, during which Depp launched the lucrative Pirates of the Caribbean franchise, as well as other big-budget films, including Alice in Wonderland and Charlie and the Chocolate Factory.

The Management Group responded to Depp’s claims with a counter-suit that claimed his financial issues were the result of his allegedly excessive personal spending.

The terms of the settlement were not disclosed.

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