Johnny Depp settles multi-million dollar lawsuit with former management

Johnny Depp has settled the multi-million dollar lawsuit with his former management company.

Depp had accused The Management Group of financial mismanagement, fraud and theft, and was suing them for $25 million (nearly £19 million).

In return, The Management Group was countersuing Depp alleging unpaid fees and damages of $550,000 (over £415,000).

The Management Group had handled Depp’s business dealings for 17 years, before he fired them in 2016.

That move lead to claims that Depp’s spending was wildly out of control, and the actor was hurtling towards bankruptcy.

Details of Depp’s alleged spending were revealed in court documents, including tens of thousands of dollars spent each month on vintage wine and $200,000 a month on private air travel

It also revealed other eccentric incidents of expenditure, like spending $3 million on firing the ashes of his friend, the late writer Hunter S. Thompson, from a canon.

A trial which was due to start in August will now not take place.

Reps for the Pirates of the Caribbean star said in a statement: “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.

“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.

“Johnny extends his most sincere thanks and appreciation to the true supporters that have shown their loyalty to both him and his family over recent years.”

Sources close to The Management Group said that it is ‘pleased with the settlement’, according to the Daily Mirror.

Depp still faces another lawsuit, however, after a location manager from is latest movie City of Lies claimed the actor assaulted him on set.

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