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Johnny Depp settles multi-million dollar lawsuit against managers

Actor previously accused former managers of carrying out fraudulent business practices


Kory Grow
July 17, 2018 9:00PM (UTC)
This article originally appeared on Rolling Stone.
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Johnny Depp settled one of the many high-profile lawsuits in which he’s entangled that were detailed in a recent Rolling Stone story. The actor sued the Management Company — where his former business managers work — for $25 million last year for fraud. They decided to settle on Saturday at a mediation session, Deadline reports. The case was set to go to court on August 15th. No settlement terms have been announced.

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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 Depp tells 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.

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“Following the settlement, Johnny is pleased to be able to revert his full attention to his ongoing artistic endeavors, 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 theaters in November this year.”

Read more Rolling Stone: Freddie Goes to Hollywood: How ‘Bohemian Rhapsody’ Finally Got Made

In the suit, Depp alleged that the company improperly managed his money for nearly two decades. He claimed they didn’t keep proper books or pay his taxes in a timely fashion, loaned his money without his permission and pursued conflicts of interest on his dime, investing his money in their own business ventures.

The company, run by Joel and Robert Mandell, then countersued the actor. They claimed they’d admonished Depp for living beyond his means, saying he had an “ultra-extravagant lifestyle that knowingly cost [him] in excess of $2 million per month.” Among his expenditures were $30,000 a month on wine, $50,000 in storage warehouses and $200,000 for a private jet. Deadline claims Depp is also in a lawsuit with his onetime transactional lawyer.

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The judge on the case would not push the suit back farther on the calendar, leading to the mediation.

In other news surrounding Depp’s legal battles, the actor was recently the target of a suit by a location manager on the film "City of Lies," who alleged Depp punched him on set. He was also sued by two former bodyguards, who claimed he’d put them in “toxic” situations and that he didn’t pay them properly.

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