Johnny Depp’s attorney, Adam Waldman, said that the lawsuit his client Johnny Depp was in was going to “change Hollywood forever.” Rolling Stone published a lengthy article about the actor and his lawsuit last month.
Depp filed the lawsuit against his managers, The Management Group, claiming that they mismanaged his funds. The group then filed a countersuit, claiming that he was the one who mismanaged them.
Depp sought $25 million in damages, including years’ worth of professional fees. The Management Group, led by Joel and Robert Mandel, documented that millions of dollars of lavish expenditures were due to Depp’s own volition.
Those expenditures included wine, luxury homes, household staff, art, private jets, security, and a cannon to blast Hunter Thompson’s ashes into the sky, according to Variety.
It was announced Monday that Depp and his managers have reached an agreement ahead of the trial, which was set to begin early in August.
“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,” the spokesman continued.
Sources close to Variety said that The Management Group was pleased with the outcome of the settlement as well.
Depp seemed to acknowledge the gravity of what the lawsuit meant – not just for him, but for the entire Hollywood industry.
“I’m just a small part of this,” Depp told Rolling Stone, referring to the lawsuit, describing it as complicated as “The Matrix.” “I didn’t see the movie, and I didn’t understand the script, but here’s what it is.”
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