Johnny Depp has settled a multimillion-dollar lawsuit against his former business managers.

The Hollywood star had accused The Management Group of fraud, theft and financial mismanagement in a $25 million (£18.9m) lawsuit filed at Los Angeles Superior Court in January 2017.

They denied the allegation that they had spent millions of dollars behind his back and counter-sued, seeking $550,000 (£415,500) in unpaid fees and damages.

Depp's representatives have now confirmed he has settled, meaning a planned trial for next month will no longer go ahead.

The actor, known for his roles in films including the Pirates of the Caribbean series, Edward Scissorhands and Sweeney Todd, is "pleased to have achieved a settlement", a spokesman said.


Image: Depp also performs with his band, The Hollywood Vampires

"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 said.

"Following the settlement, Johnny is pleased to be able to revert his full attention to his ongoing artistic endeavours, notably the second leg of the sold-out Hollywood Vampires global tour and the exciting launch of JK 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 Management Group handled Depp's affairs for 17 years until being fired in 2016.

They had alleged that Depp was in financial turmoil because he had spent millions of dollars on cars, works of art, homes, wine and Hollywood memorabilia.

Image: The actor plays a retired LAPD detective in City Of Lies

Earlier this month, it emerged that Depp is being sued by a crew member after allegedly punching him on the set of City of Lies, a film about the killings of Tupac and Notorious BIG.

Last year, the actor emerged from a bitter divorce battle with actress Amber Heard, who accused him of domestic abuse.