Johnny Depp sues ex-managers alleging millions in losses

Depp hired the Mandels in 1999 and their compensation was not subject to a written contract, his lawsuit states. It states they received 5 per cent of his income on hit films such as the “Pirates of the Caribbean” franchise and other major releases, including “Alice in Wonderland” and the 2005 film “Charlie and the Chocolate Factory.”

It alleges the company failed to file Depp’s tax returns on time, costing him nearly $5.7 million in penalties. The lawsuit also alleges the company overpaid for several services, including forgetting to terminate the lease on a home where Depp’s mother lived temporarily, and spending $8 million on security between 2012 and 2015 alone.

Depp learned of the problems after hiring a new management company in March 2016, the complaint states.

Kump wrote that Depp owes The Management Group $4.2 million from a $5 million loan they provided the actor. “His tactics and lawsuit will fail, and he will be forced to pay back the loan as promised,” Kump wrote.

The lawsuit came on the same day Depp finalized his divorce from actress Amber Heard. Their divorce judgment calls for the actor to pay his ex-wife $7 million in installments — which she has earmarked for two charities — while allowing him to keep numerous properties and vehicles.

Depp isn’t the only blockbuster star to take his former managers to court alleging mismanagement. Nicolas Cage sued his former business manager seeking $20 million for alleged mismanagement in 2009 and the manager in a countersuit cited the actor’s spending for his financial troubles. The case was resolved before trial.

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Anthony McCartney can be reached at http://twitter.com/mccartneyAP

Anthony McCartney, The Associated Press

by Canadian Press

Johnny Depp sues ex-managers alleging millions in losses

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