Los Angeles July 17 (IANS) Hollywood actor Johnny Depp has reached a settlement in his legal battle with the Management Group averting a trial that was set to begin next month.
Depp sued his former managers in January 2017 accusing them of spending millions of dollars without his permission. He sought $25 million in damages including years worth of professional fees.
The Management Group led by Joel and Robert Mandel filed a countersuit alleging that Depp was responsible for his own financial straits and documenting millions of dollars of expenditure on wines luxury homes household staff art private jets security and a cannon to blast Hunter Thompson s ashes.
The terms of the settlement were not disclosed reports variety.com.
"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 " Depp s spokesperson said in a statement.
"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 " the spokesperson added.
The trial was scheduled for August 15. The two sides had a mediation with Peter Lichtman a retired judge who serves as an arbitrator.
Depp still has a pending suit against Jake Bloom his former attorney whom he accused of malpractice.

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