Gallery owner Larry Gagosian asked a New York judge to dismiss billionaire Ron Perelman’s lawsuit accusing Gagosian of using his position in the art world to negotiate secret deals and manipulate art prices.
Revlon Inc. officials agreed to pay more than $9.2 million to resolve investors’ claims that Ronald Perelman, the controlling shareholder, shortchanged them in a deal designed to acquire common stock he didn’t already own.
Gallery owner Larry Gagosian is accused in two lawsuits, including one brought by billionaire Ron Perelman over a $4 million sculpture named “Popeye,” of using his position in the art world to negotiate secret deals, push clients around and manipulate prices for contemporary works.
Ron Perelman is trying to complete the least expensive buyout of a holding company in eight years, prompting speculation that traders can extract the biggest price increase of any U.S. deal from the billionaire.
Lenders to Philadelphia Newspapers LLC, the bankrupt owner of the Philadelphia Inquirer, won an auction for control of the publisher against a group led by billionaire Ronald Perelman after almost 30 hours of wrangling.