Johnny Depp has settled a lawsuit with his former managers, a month before the trial was due in court. The actor sued the Management Group for $25 million last year for fraud.

He accused the group, led by Joel and Robert Mandel, of spending millions of dollars without his permission over the space of nearly two decades.

He claimed they didn’t keep proper books or pay his taxes in a timely fashion, loaned his money without his permission and pursued conflicts of interest on his dime, investing his money in their own business ventures.

The Management Group denied the allegation and filed a countersuit alleging that Depp was responsible for his own financial woes.

They argued that his lavish lifestyle cost in excess of $2 million a month to maintain, and claimed that the ‘Pirates of the Caribbean’ actor spent millions of dollars on luxury homes, wine, art, household staff, security, a private jet and a cannon used to scatter the ashes of writer Hunter S Thompson.

Following a mediation session that took place on Saturday, Depp has settled the lawsuit meaning the trial that was planned to occur in a matter of weeks will not go ahead. The terms of the settlement were not disclosed.

A spokesperson for Depp said: "Johnny Depp is pleased to have achieved a settlement agreement with The Management Group following the legal action he took against the company in January 2017.

"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."

Depp is due to star in ‘Fantastic Beasts: The Crimes of Grindelwald’ in November and his spokesperson said that he wants to "revert his full attention" to the project.

The statement concluded: "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."

This isn't the only lawsuit that Depp is involved in as the actor is also being sued for allegedly punching someone on the set of 'City of Lies'.