Johnny Depp has reached a settlement in his legal battle with the Management Group, averting a trial that was set to begin next month.
Johnny 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 expenditures on wine, 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.
“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 Depp 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.”
Sources familiar with the litigation said that TMG was pleased with the outcome.
The trial was scheduled for Aug. 15. The two sides had a mediation over the weekend 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.
Rolling Stone published a wide-ranging interview with Depp last month. The magazine reported that Depp and his attorney, Adam Waldman, believed the suit would “change Hollywood forever.”
“I’m just a small part of this,” Depp told the magazine, when asked about the case. “It’s the f—ing Matrix. I didn’t see the movie, and I didn’t understand the script, but here’s what it is.”