added: 18 Apr 2014 // by: Music-News.com Newsdesk
Rihanna has reportedly dropped a multimillion dollar lawsuit against her former accountants.
The 26-year-old Disturbia singer sued financial institution Berdon LLP in 2012, accusing the company of grossly mismanaging her funds.
And according to the New York Daily News, the case is now closed, as Rihanna's lawyers informed Manhattan Federal Judge P. Kevin Castel Thursday she has settled out of court with the number crunchers.
The terms of the alleged settlement have not been revealed, but a source told the outlet the accounting firm was unwilling to shell out a penny to the singer.
A trial on the matter would have commenced May 12 and if it had gone forward, Rihanna would have been forced to testify in public.
TMZ previously reported Rihanna insisted she had $11 million in cash at the beginning of 2009, but an estimated $9 million of this money was mishandled.
But according to court documents obtained by Page Six last month, lawyers for one of the accountants named in the case accused Rihanna of being financially inept.
'Peter Gounis . had no role or responsibility for how much money was made and/or spent,' the filing reportedly read, noting her 2010 Last Girl on Earth Tour was a money pit.
'The tour was what she wanted, just as the exorbitant amount of expensive clothing and other purchases she squandered her money on were.
'At the end of her two-year spending spree she had rooms of shoes, clothing and jewellery and fond, if not hazy, memories of extravagant parties, but little cash.'
Representatives for Rihanna and Berdon LLP have yet to address reports she chose to withdraw her lawsuit.