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Michael Jackson's court case settled

NEW YORK, June 19 (UPI) -- Singer Michael Jackson decided to settle a $48 million lawsuit, which was filed against him in New York by a New Jersey finance company.

The lawsuit alleged that Jackson had stiffed businessman Darien Dash and Prescient Acquisition Group after they helped him refinance a $272 million bank loan and helped secure $573 million in financing to help the superstar buy out Sony's half of the Beatles' song catalogue.

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Lawyers announced Monday that the case had been settled out of court for an undisclosed sum just as Manhattan federal Judge Kevin Castel was preparing to select a jury.

"We're very pleased with the settlement," said Dash's lawyer, Steven Altman.

Court records also revealed that the jurors were supposed to watch a recorded deposition from Jackson in which he accuses former financial advisers of swindling him out of money while he was in court to face child-sex charges.

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