JOHNNY DEPP has reached a settlement with his former business team, who he accused of mismanaging his earnings.

Depp took action against the company in 2017 claiming US$25 million over their handling of his affairs, which he said left him more than US$40 million in debt.

The management group then counter-sued, asserting that the actor had been responsible for his own money worries due to his US$2 million-a-month lifestyle.

A planned trial set for Aug. 15 will not now go ahead.

No details have been given of the settlement but a spokesman for Depp said the actor was “pleased” with the outcome.

The statement said the lawsuit and 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.”

His spokesman said he wanted to “revert his full attention” to his upcoming film “Fantastic Beasts: The Crimes of Grindelwald,” as well as to his band, the Hollywood Vampires. (SD-Agencies)