Agreement Reached in the Financial Lawsuit Against Michael

Michael’s defense attorneys reached an agreement on Monday regarding a claim by a financial company in New Jersey that Michael owes $48 million. The agreement was reached on the eve of the selection of the jury members for the Manhattan court. The terms of the settlement have not been released. Steven Altman, the defense attorney for Darin Dash, the head of the financial company, said that Dash helped Michael pay his $272 million debt to the bank, as well as his $573 million investment in buying half of the Beatles catalog for Michael. In his declaration, Michael stated that he had heard nothing from Dash and had not signed any agreement. The lawyers for both sides expressed satisfaction with the settlement. Altman said: "We are very pleased with this agreement, and at Mr. Jackson’s request, the terms of the agreement will remain confidential." McMillan, Michael’s attorney, said that in 2005, during Michael’s trial, one of his employees had entered into a contract without Michael’s permission. McMillan called the settlement a win-win outcome and said: "Now that this legal dispute against Michael has ended, the world is waiting for his next creative work." He also expressed confidence that the smallest risk would not threaten the catalogs that Michael owns. In his declaration related to the financial court case held in Paris—aimed at addressing a lawsuit filed by a New York company against him—Michael had said: "The programming industry is full of leeches, swindlers, and tricksters. Because a lot of money is involved, a bunch of stupid people gather there. This is the programming world—full of thieves and scammers. This isn’t new. Everyone knows it." Source: eMJey / AP