Alyssa Milano has settled her massive legal battle after accusing her former business managers of sending her into millions of dollars in debt.
According to court documents obtained by The Blast, Milano and her husband, talent agent David Bugliari, have dismissed their lawsuit against Hellie, Hoffer and Company, LLP.
The firm has also dismissed their counter-claims against Milano and Bugliari.
Both sides had been preparing for a scheduled trial but they have reached a deal to avoid going to court right before the proceedings were about to begin.
A rep for Milano tells The Blast, “Alyssa Milano and David Bugliari have successfully settled their lawsuit against their business managers. As the case was preparing for trial, the parties reached a confidential settlement for an undisclosed amount. Both Ms. Milano and Mr. Bugliari are very pleased with the terms of the settlement and are satisfied that it has been resolved.”
Back in 2017, Milano and her agent/husband, David Bugliari, sued her former business managers at the firm for $10 million and accused them of screwing up the couple’s finances and causing them to be left with millions of dollars in debt and their credit ruined.
They accused the managers of negligence for failing to warn them of their financial situation. The lawsuit accused the firm of breach of fiduciary duty, fraud and theft and negligence.
Milano originally hired Hellie in 2006 and worked with them until she terminated the deal in 2016, due to her discovery of late mortgage payments and messed up taxes.
Milano and her husband were counter-sued by the firm, who denied they caused their finances to be ruined and claimed they warned the actress and her husband to cut back on their spending but they refused.
They point to the couple’s 2013 home remodel where they claimed to have been given repeated warnings that it was over budget.
The money managers claimed the stars would even overspend by buying a second home in the mountains, taking private planes, keeping their country club membership and employing numerous personal staff members, like nannies and housekeepers.
The trial was originally scheduled to begin in January but was pushed back after Milano pleaded for an extension, citing the California wildfires
The actress requested for the trial to be moved due to her Bell Canyon home having been “adversely affected by the recent Woolsey Fire”. She claimed to need a substantial time to recover from the damage.
It’s unclear if there was any money that exchanged hands between Milano and her former managers, but it seems the actress is ready to move on with her life over the situation.