Michael Jackson was never legally accused of being a pedophile, he was an alleged pedophile. The only reason people seem to have believed he was a pedophile was due to the fact that he settled the first lawsuit, however, this was in large part out of his control, something which Michael Jackson had stated for a long time, yet no one cared since they judged him outright to be a pedophile.
One interesting peace of evidence that still stands on Michael Side and his innocence was the fact that those who accused him of being a child molester, the Chandler family, disappeared once they received a cash settlement for the civil lawsuit, refusing to file a criminal lawsuit. The problem with this is that they were able to take him to court and prove his guilt, probably making more money along the way. The fact that they refused to do this is suspicious, especially, since Michael Jackson had many fans. By refusing to prosecute Michael of wrongdoing, they, the Chandler family, essentially now had to live a life in complete hiding from just about everyone, for fear of being condemned and hunted down by Michael Jackson fans.
If they had prosecuted Michael in criminal court, Michael Jackson could have gone to jail if he was guilty. If he was not, he would have been a free man and the Chandler family would have been embarrassed. Since the Chandler's had obviously no evidence, and were obviously just making accusations their best option was to go into hiding once they received the money, the only indication is that Michael, therefore, must have been innocent.
The Chandler's made their life harder then it had to be, if Michael was guilty they should have prosecuted him in criminal court, by refusing to testify because they would obviously lose, Jordan Chandler, damned the family into hiding.
There are stories of how crazy Evan Chandler the father of Jordan Chandler went over the years. Some of them detail his insane level of vanity, which some speculated resembled Michael's. However, Unlike Michael, Evan Chandler didn't really have a need for his vanity, he was never in the spotlight, his only derived from fear of people recognizing him which is ridiculous, the only reason this fear would even exists in his mind was because he had to know Michael was innocent.