March 07, 2011 09:14:58 GMT
Four days before the music mogul was due to be in court for his battle against Robert Saphiro, a sealed settlement was presented to the judge.
Jailed music mogul Phil Spector has settled his legal dispute with attorney Robert Saphiro over a $1 million retainer fee, just days before a trial was due to begin. The famed producer was fighting to win back the staggering sum he paid criminal defense attorney Shapiro after his arrest in 2003.
The embattled star hired the high-powered lawyer, who previously represented O.J. Simpson, as his first legal counsel, but they later parted ways and Spector went on to be convicted of second-degree murder for the fatal shooting of actress Lana Clarkson. Spector claimed Shapiro took advantage of him and the producer has been battling for years to recover the payment.
A trial was scheduled to begin on Monday, March 7 but lawyers for both sides reported a settlement on Thursday, March 3, according to the Associated Press. A judge ordered the terms of the agreement to remain sealed.
Spector, who is currently serving 19 years to life in prison, would not have been released for the trial, but his legal team planned to play his videotaped deposition in court.