LOS ANGELES • Pirates Of The Caribbean star Johnny Depp and his former business managers have settled duelling lawsuits over his business affairs, his representatives said on Monday.

They said in a statement that the terms of the agreement are confidential. A trial was scheduled to begin in Los Angeles next month.

A source close to The Management Group, the Los Angeles company that had handled the actor's affairs for 17 years until being fired in 2016, said it was "pleased with the settlement".

In a US$25-million (S$34-million) lawsuit filed in Los Angeles Superior Court in January last year, he accused it of fraud, theft and financial mismanagement.

It filed a countersuit a month later, seeking US$550,000 in unpaid fees and damages, and alleging he was in financial turmoil because he had spent millions of dollars on cars, art, homes, wine and Hollywood memorabilia.

Depp was ranked by Forbes as Hollywood's highestpaid in 2010, with earnings of US$75 million, mostly from the Pirates Of The Caribbean movie franchise.

The settlement came as promotions were gearing up for Fantastic Beasts: The Crimes Of Grindelwald, a spin-off sequel from the Harry Potter movies, in which Depp plays a younger version of Grindelwald, who embodies the dark forces in the wizarding world.

The film is due in theatres in November.

REUTERS