Johnny Depp settles $25 million lawsuit against former management

Johnny Depp has settled a $25 million lawsuit against his former management.

The Pirates of the Caribbean actor sued The Management Company (TMG) for the large sum last year claiming “gross misconduct” and what he described as “fraudulent self-activity.”

However, this provoked a counter lawsuit against Depp, with TMG claiming his financial downfall was his own doing, blaming his lavish lifestyle for the loss.

Despite this, according to reports, both parties agreed on a settlement during a mediation session.

A spokesman for Depp said: “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.

He added: “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 theatres in November this year.

“Johnny extends his most sincere thanks and appreciation to the true supporters that have shown their loyalty to both him and his family over recent years."

The news comes after the 55-year-old opened up in a tell-all interview with Rolling Stone about his emotional and financial battles, including the “pain” he had to deal with on the back of his divorce.

The Hollywood star told how he struggled to manage as stories emerged following the split, his mother’s death and his involvement with multiple lawsuits.

Speaking to Rolling Stones, Depp said: "I was as low as I believe I could have gotten. The next step was, ‘You’re going to arrive somewhere with your eyes open and you’re going to leave there with your eyes closed’. I couldn’t take the pain every day.”