MJ Settles Another Lawsuit

Legal reps for Michael Jackson have settled a lawsuit filed last summer by a finance company that claimed the former King of Pop owed $48 million for services rendered.

The suit filed by New Jersey-based Prescient Acquisition Group was settled June 18th just prior to going to trial in Manhattan. Terms of the settlement were not disclosed.

"The most important thing is that Michael Jackson’s publishing catalog remains safe and sound," said Jackson’s lawyer, L. Londell McMillan.

Prescient owner Darien Dash claimed his company was owed the money in return for helping the cash-strapped performer refinance $272 million in debt owed to Bank of America and arranged another $537.5 million in financing to buy Sony’s half of The Beatles catalog the label co-owned with Jackson.