Nic Cage’s Lawsuit with Ex-Business Manager Dismissed

By DANIEL MACHT
|  Wednesday, Sep 1, 2010  |  Updated 8:05 PM PDT
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Actor Nicolas Cage's legal face off with his ex-business manager has ended.

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Nicolas Cage’s legal face off with the ex-business manager he accused of destroying his finances has ended.

The “National Treasure” star’s $20 million suit against Samuel J. Levin was dismissed Monday, as was Levin’s countersuit alleging Cage brought his debt troubles on himself though his own lavish spending, The Associated Press reported.

The terms of the settlement were confidential, according to TMZ, which first broke the story.

The move likely spares Cage from having more embarrassing revelations about his alleged reckless ways with money become part of the public record, E! News reported.

In October, Cage accused Levin of shoddy business advice involving risky real estate investments.

Levin fired back in court papers that the “Face/Off” actor’s problems stemmed by having thrown his money at “15 palatial homes around the world, four yachts, an island in the Bahamas, a Gulfstream jet, millions of dollars in jewelry and art,” according to E!

Earlier this year, Cage announced a plan to pay Uncle Sam $14 million in back taxes, along with any state taxes owed.

Selected Reading: The Associated Press, TMZ, E!

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