Johnny Depp settles $25 million lawsuit against former business managers

Johnny Depp has settled a bitter legal dispute with his former business managers, the actor said Monday, a move that allows him to avoid a public and potentially embarrassing trial over how he has lost much of his Hollywood fortune.

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 judge must now approve the settlement to stop a trial scheduled to begin on Aug. 15. Terms of the settlement haven’t been disclosed.

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In January 2017, Depp sued the firm, seeking more than $25 million in damages for alleged fraud and professional negligence. Among other charges, Depp accused the Management Group of causing him to incur debt and effectively squander more than $650 million amassed in a decadeslong acting career.

An expanded version of this report appears at WSJ.com.

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