The estate of Michael Jackson and his former manager Tohme Tohme have settled a long-running legal dispute over whether or not Tohme was owed commission on deals he made for MJ dating as far back as 2008.
According to Billboard, back in 2012, Tohme 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 the revenue generated from “This is It” and a finder’s fee for a loan that stopped Neverland Ranch from falling into foreclosure.
Jackson’s estate argued that Tohme was terminated before Jackson’s untimely death and that he breached fiduciary duty. The trail began on May 14th, but a settlement was reached just five days later in court.
In a joint statement sent to The Hollywood Reporter, both parties said: “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.”
