Johnny Depp has reached a conclusion of his huge lawsuit against former managers which has resulted in a $25 million settlement.
Depp sued The Management Company (TMG) for $25 million last year, claiming “gross misconduct” and what was described as “fraudulent self-activity”. What ensued was a counter lawsuit by TGM who claimed that Depp’s financial downfall was the fault of his own, citing his lavish lifestyle as a potential reason.
However, with proceeding looking tricky to negotiate, both parties agreed on a settlement for an undisclosed amount during a during a mediation session.
“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 the Fantastic Beasts actor told Rolling Stone.
“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.
“Following the settlement, Johnny is pleased to be able to revert his full attention to his ongoing artistic endeavours, notably the second leg of the sold-out Hollywood Vampires global tour and the exciting launch of J.K. Rowling’s Fantastic Beasts: The Crimes of Grindelwald, which will be released in theatres in November this year.”