Johnny Depp settles lawsuit with former managers a month before trial
Depp was seeking 25 million dollars (£18.9 million) in damages from the Management Group.
Johnny Depp has settled a lawsuit with his former managers a month before they were due in court.
The 55-year-old sued the Management Group in January 2017 and accused them of spending millions of dollars behind his back, an allegation they denied.
He was seeking 25 million dollars (£18.9 million) in damages.
The Management Group, led by Joel and Robert Mandel, filed a countersuit and said Depp had been responsible for his financial woes, accusing him of spending millions of dollars on luxury homes, wine, art and a cannon used to scatter the ashes of writer Hunter S Thompson.
The Edward Scissorhands star has now settled the lawsuit, meaning a planned trial on August 15 will not go ahead.
A spokesman for Depp said: “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.”
Depp is due to star in Harry Potter prequel Fantastic Beasts: The Crimes of Grindelwald in November and his spokesman said he wanted to “revert his full attention” to the project, as well as to his band, the Hollywood Vampires.
The statement added: “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.”