Los Angeles, Jan 14 (IANS): Actor Johnny Depp has sued his former business managers, saying that he faced "gross misconduct" that resulted in him losing "tens of millions of dollars".

The managers, however, have denied the allegations and responded that the suit is a fabrication and a result of Depp's "profligate" spending, reports variety.com.

Depp made the allegations in a lawsuit filed on Friday in a state court here. Depp filed the complaint, which is 52 pages long, against The Mandel Co, The Management Group, Joel L. Mandel, Robert Mandel, First American Title Insurance Co. and 15 other unnamed defendants.

The "Pirates of the Caribbean" actor is seeking a jury trial and asking for compensatory damages of at least $25 million. Depp said that the self-dealing by TMG was so extensive that he has been forced to sell off assets to pay for the losses.

"Mr. Depp is one of the most sought after and highly paid actors in the world. He is also the victim of the gross misconduct of his business managers - The Management Group and attorneys Joel and Robert Mandel - who collected tens of millions of dollars of contingent fees, purportedly based on an oral contract, all at Mr. Depp's expense," said attorney Matthew Kanny in the complaint.

The suit contains 11 causes of action, including professional negligence, fraud, negligent misrepresentation and unjust enrichment, variety.com said.