It’s a growing Hollywood trend … tens of millions of dollars gone? Sue the guy who handled your finances! But, legally, who should shoulder the blame — and more critically, pay the price — when a celebrity once worth hundreds of millions sees most of it disappear? And what lessons are there for those of us whose net worth hasn’t quite hit eight or nine figures?
Johnny Depp is the poster child for this dilemma after his reported net-worth of $200 million dwindled to a small fraction of what it once was. But Depp is far from alone. This summer, Alyssa Milano filed a $10 million lawsuit against her former business manager claiming financial ruin. And Lisa Marie Presley recently announced, through her attorney, that she is in the same boat, preparing to sue her former business manager for $100 million in losses.