Gagosian Gallery Asks to Toss Suit by Billionaire Perelman
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Two entities controlled by billionaire Ronald Perelman are “sophisticated” art investors whose lawsuit against gallery owner Larry Gagosian should be dismissed, lawyers for Gagosian told a New York state judge.
Gagosian sued Perelman in New York state Supreme Court in Manhattan in September, accusing the billionaire of reneging on an agreement to buy two works of art for more than $23 million and offering less money and other works of art in exchange. Perelman sued Gagosian and his gallery in the same court the same day, accusing them of concealing material information and using their position to manipulate the price of art.