Michael Jackson settles $48M lawsuit
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Michael Jackson waves in Tokyo in this Sunday, May 28, 2006 file photo. Jackson says in a court deposition that the Rev. Jesse Jackson and billionaire Ron Burkle gave him advice to help save him from financial disaster when he was fighting child molestation charges. The Daily News said in Sunday editions it reviewed seven hours of transcripts, finding that the singer believed disloyal advisers took advantage of him financially before a Santa Maria, Calif., jury acquitted him of child molestation in June 2005. [AP] |
NEW YORK - Lawyers for Michael Jackson settled a lawsuit Monday brought by a New Jersey financial company that was seeking $48 million.
The lawsuit by Prescient Acquisition of Hackensack, N.J., was settled just as jury selection was set to begin in U.S. District Court in Manhattan.
Terms of the settlement weren't released.
Steven Altman, a lawyer for Darien Dash, who owns Prescient, said Dash was owed the money for helping Jackson refinance a $272 million bank loan and secure $573 million in financing to buy Sony Corp (NYSE:SNE - news).'s half of the Beatles' song catalog that Sony co-owned with the pop superstar.
Jackson, 48, had claimed he never heard of Dash and didn't remember signing an agreement.
