Johnny Depp sues ex-managers alleging millions in losses

LOS ANGELES (AP) - Johnny Depp is suing his former business managers alleging they mismanaged his earnings throughout his career, although the company says the actor's spending is to blame.

Depp's lawsuit filed Friday in Los Angeles Superior Court against The Management Group seeks more than $25 million, alleging its owners failed to properly pay his taxes, made unauthorized loans and overpaid for security and other services.

Michael J. Kump, an attorney for The Management Group, calls Depp's lawsuit a "fabrication" and says the actor's former business managers "did everything possible to protect Depp from his irresponsible and profligate spending."

Depp claims his former managers were hired in 1999 and their compensation was not subject to a written contract. His suit states they received five percent of his income on hit films such as the "Pirates of the Caribbean" franchise.

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