Johnny Depp settles multi-million dollar lawsuit against ex-managers

Lawrence Kim
July 18, 2018

Three-time Oscar nominee Johnny Depp has reportedly settled his year-and-a-half long legal battle against his former managers, The Management Group.

Johnny Depp at a London movie premiere in November.

A statement released by a Depp spokesperson said that settling the case, which had been scheduled to begin trial next month, would allow him to focus on touring with his band, Hollywood Vampires, and promoting the latest film based on J.K. Rowling's books, Fantastic Beasts: The Crimes of Grindelwald.

Mr. Depp and the Management Group, which handled his finances between 1999 and 2016, arrived at a confidential settlement over the weekend, according to a person familiar with the matter.

A spokesperson said Depp, 55, was "pleased" with the confidential agreement reached with The Management Group, the company that handled his business affairs for almost two decades.

The statement added: "Johnny extends his most honest thanks and appreciation to the true supporters that have shown their loyalty to both him and his family over recent years".

Johnny Depp in the Harry Potter prequel Fantastic Beasts The Crimes of Grindelwald
Johnny Depp in the Harry Potter prequel Fantastic Beasts The Crimes of Grindelwald

"Depp, and Depp alone, is fully responsible for any financial turmoil he finds himself in today", the managers' lawsuit countered.

In a countersuit, The Management Group said the star, depicted as Jack Sparrow in this publicity image from Pirates of the Caribbean: On Stranger Tides, lived a lavish lifestyle including 14 homes, a yacht and a private jet.

Later, the war of words between Depp and his former managers grew louder when the managers labelled the actor "a habitual liar" in response to Depp asserting in an interview that they "clearly let me down".

The Golden Globe victor claimed to Rolling Stone last month: '[This lawsuit] will change Hollywood forever. He's been paid approximately $650 million.

Plus, Depp had no idea he was behind on paying his taxes. "I'm just a small part of this", Johnny previously told Rolling Stone when asked about the case.

Depp's representatives have now confirmed he has settled, meaning a planned trial for next month will no longer go ahead.

Other reports by Click Lancashire

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