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Johnny Depp settles lawsuit with former management team

Depp's spokesman said he was "pleased" with the outcome.

Johnny Depp has settled a lawsuit with his former management team, after the screen icon accused them of mismanaging his finances.

The Oscar winner pursued action against the Management Group in 2017, attempting to claim $25m (£20m) for the way that they dealt with his financial affairs. Depp claims that he was left more than $40m (£31m) in debt.

The company then launched a counter-suit, claiming that the actor’s issues were a result of him spending a staggering $2million a month.

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Now, a planned trial for next month has been shelved after a settlement was reached between the two.

Although no details have been given, Depp’s spokesman said he was “pleased” with the outcome.

The statement claims that the 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.”

Depp now wishes to “revert his full attention” to his on-screen work, the statement added, including an upcoming role in Harry Potter spin-off Fantastic Beasts: The Crimes of Grindelwald.

The actor had originally accused the firm of failing to file his taxes on time, as well as taking out dangerous loans without his prior authorisation.

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