Johnny Depp settles with former managers

Johnny Depp has settled his lawsuit with his former business managers.

The 'Pirates of the Caribbean' 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. The terms of the settlement agreement are confidential."

Though the outcome is secret, the 55-year-old actor is "pleased" with the agreement.