Johnny Depp filed a case against The Management Group (TMG), in which he accused them of mismanaging his money, while they subsequently filed a countersuit, insisting his financial woes were a result of his out-of-control spending, but with just weeks to go before a trial was due to start, the disagreement has now been settled privately.
A statement issued by Johnny's team confirmed: "Representatives for Johnny Depp today announce that Mr Depp has reached a settlement agreement with his former business managers, The Management Group, following legal action taken against the company by Mr. Depp in January 2017. The terms of the settlement agreement are confidential."
Though the outcome is secret, the 55-year-old actor - who has children Lily-Rose, 19, and Jack, 16, with former partner Vanessa Paradis - is "pleased" with the agreement.
The statement added: "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. 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 Hollywood Vampires rocker thanked his fans for their support and is now looking forward to focusing on his career.