Alanis Morissette has settled her lawsuit with her former management company GSO Business Management.
The 41-year-old singer filed papers in a Los Angeles Court in May which alleged their employee and her manager Jonathan Schwartz robbed her of $4,767,900 over the course 2010 to 2014 to pay for a "lavish lifestyle" and to settle gambling debts of $75,000 in a casino in the Bahamas.
Though the out-of-court settlement terms have not been revealed, however, Alanis is delighted with the outcome.
In a joint with the company on Wednesday (23.06.16), she said: "I am pleased to have the civil part of this matter resolved."
The money was allegedly stolen over the course of 116 transactions and when Morissette and her new financial manager presented their evidence to GSO and Schwartz, he claimed the singer had asked him to withdraw the money and invest it into a marijuana business, a claim which she has always denied.
GSO – who have managed the finances of Beyoncé and Mariah Carey – backed the singer and is in the process of suing Schwartz.
The company said in the statement: "GSO appreciates the patience, cooperation and trust that Alanis showed in allowing GSO to address this matter."
Adding they are: "Committed to cooperating fully with any criminal proceedings that may result against Mr. Schwartz."
The Hollywood Reporter listed Schwartz, 46, as one of ‘Hollywood’s 25 most powerful business managers’ in 2014 and said he was GSO’s youngest partner and someone who will "go to extremes" to assist famous clients.
Giving one such example, they wrote: "He once invited NFL cornerback Antonio Cromartie, who had blown through $5 million in his first two seasons, to stay at his home for a couple of weeks for an experiential education in living responsibly."
In the piece, the manager also contributed examples of occasions where has been asked to sign off on expenditure for celebrities who lead a lavish lifestyle.
He said: "Biggest check cut: Probably a private plane. For some of these high-profile clients, you’re not going to see them walking around LAX."
Meanwhile, ‘Ironic’ hitmaker announced in February she’s pregnant with her second child with her husband Mario ‘Souleye’ Treadway.
The couple already have five-year-old son Ever together.
Alanis Morissette settles embezzlement lawsuit
