Johnny Depp has reached a multimillion-dollar settlement with his former managers, who he had previously planned to take to court.

In January 2017, the ‘Secret Window’ actor filed a $25 million (£18.9 million) lawsuit against The Management Group, who looked after him for 17 years, accusing them of fraud, theft and financial mismanagement.

They denied this profusely, even counter-suing in a suit that sought $550,000 (£415,000) in damages and unpaid fees.

In a statement issued by his representatives, Johnny has now revealed that this lawsuit will no longer be going ahead, with the actor said to be “pleased” with the result.

The statement reads: “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.”

Somewhat clumsily name-checking his upcoming projects, it continues: “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.”

Johnny and The Management Company parted ways in 2016, with the actor filing the lawsuit months later. They alleged at the time that the reason for the actor’s financial woes was due to him having spent his money on “cars, works of art, homes, wine and Hollywood memorabilia”.