Jackson settles case out of court

Lawyers for US singer Michael Jackson have settled a lawsuit brought by a finance company that claimed the 'Beat It' singer cheated it out of $48m (€35.7m).

The lawsuit by Prescient Acquisition, of Hackensack, New Jersey, was settled yesterday just as jury selection was to begin in US District Court in Manhattan.

Terms of the settlement were not released.

Jackson lawyer Londell McMillan said he delivered news of the settlement to the King of Pop, who told him: “I’m very grateful that this is behind me.”

“The most important thing is that Michael Jackson’s publishing catalogue remains safe and sound,” said McMillan, an entertainment law star whose clients have included Prince and Stevie Wonder.

A lawyer for Prescient owner Darien Dash said the businessman was owed the money for helping Jackson refinance a bank loan and secure millions in financing to buy Sony’s half of the Beatles’ song catalogue that Sony co-owned with Jackson.

Jackson had said he never heard of Dash.

After the settlement, Dash’s lawyer, Steven Altman, said: “We brought the lawsuit to collect money for services Mr Dash provided to Mr Jackson. We’re very pleased with the settlement, although the terms of it we’ve agreed to keep confidential at Mr Jackson’s request.”

McMillan said Jackson was dismissed as a defendant earlier in the year but the trust to one of his publishing catalogues remained a defendant.

He said a man who worked for Jackson when he was on trial in California signed an agreement even though he did not have authority to do so from Jackson.

The lawyer said the settlement “presents a win-win for everybody”.

Now, the lawyer said, with the litigation behind Jackson, “the world is awaiting his next creative move”.