Jackson Settles Lawsuit Minutes Before Trial

michael jacksonLawyers for Michael Jackson settled a lawsuit Monday brought by a New Jersey finance company that claimed Jackson cheated it out of $48 million (€35.8 million).

The lawsuit by Prescient Acquisition, a Hackensack, New Jersey, firm, was settled just as jury selection was set to begin in U.S. District Court in Manhattan.

Terms of the settlement were not released.

Steven Altman, a lawyer for businessman Darien Dash, who owns Prescient, said Dash was owed the money for helping Jackson refinance a $272 million (€202.9 million) bank loan and secure $573 million (€427.5 million) in financing to buy Sony’s half of the Beatles’ song catalog that Sony co-owned with Jackson.

Jackson had claimed he never heard of Dash and did not remember signing an agreement.

Associated Press

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