12:54pm PT by Ashley Cullins
Michael Jackson's Ex-Manager and Estate Settle Dispute Mid-Trial
Michael Jackson's estate and his former manager Tohme Tohme have settled a long-running dispute over whether he was owed commission from as far back as 2008.
Tohme in 2012 sued the estate, claiming he was owed a 15 percent commission on money Jackson made during the last year of his life, a cut of This Is It revenues and a finder's fee for a loan that stopped Neverland Ranch from going into foreclosure. The estate had argued Tohme was terminated before Jackson's death and that he breached his fiduciary duty, among other claims. The trial began May 14, but ended after just five days in court.
The parties on Thursday sent The Hollywood Reporter this joint statement: "The Estate of Michael Jackson and Jackson’s former manager, Tohme Tohme, confirm that they have amicably settled a lawsuit that had been underway in the Santa Monica Superior Court. The Estate acknowledges his efforts on Michael’s behalf. The confidential settlement marks a resolution to an almost decade-long contractual dispute."