News / Entertainment
Michael Jackson Lawsuit Settled Before Jury Selection
Rather than take off his one glove and fight it out in court Michael Jackson opted to settle a lawsuit filed against him by Prescient Acquisition.
The New Jersey based financial company sued Jackson in 2005 for $48 million claiming the pop star failed to pay for services that resulted in a $272 million bank loan being refinanced and $573 million in financing used to purchase the complete rights to the Beatles’ song catalog from Sony Corp.
Jackson had already owned half the Beatles’ catalog when he purchased the reaming half from Sony.
The case was to be heard in U.S. District Court in Manhattan with jury selection set to begin just before Jackson’s lawyers reached an agreement with Prescient Acquisition.
Neither side revealed the terms of the settlement.
