Singer Jackson's Lawyers Settle Lawsuit by N.J. Financial Company

Lawyers for Michael Jackson settled a lawsuit yesterday brought by a New Jersey financial company that was seeking $48 million. The lawsuit by Prescient Acquisition of Hackensack, N.J., was settled just as jury selection was set to begin in U.S. District Court in Manhattan. Terms of the settlement weren't released.

Steven Altman, a lawyer for Darien Dash, who owns Prescient, said Mr. Dash was owed the money for helping Mr. Jackson refinance a $272 million bank loan and secure $573 million in financing to buy Sony Corp.'s half of the Beatles' song catalog that Sony co-owned with the pop superstar. Mr. Jackson, 48, had claimed he never heard of Mr. Dash and didn't remember signing an agreement.