Monday, June 29, 2009

Prenup Related Litigation

An item from San Jose Mercury News that did not published during my hiatus. How would this play in Indiana? Probably about the same. Although I am thinking of this as being tried before a judge under a divorce case, I am not so sure that a jury of Hoosiers would be greatly impressed with the ex-wife.

Jury rejects Peter Morton's ex-wife's money claims -
Tarlton Morgan claimed in a 2007 lawsuit that her ex-husband cheated her out of the full value of her 1 percent interest in the Hard Rock Hotel and Casino, worth about $5 million, because he didn't tell her he had purchased land next door which increased the value of the resort.

Tarlton Morton got the stock in 1994 in exchange for giving up a yearly $100,000 payment by Morton as part of a prenuptial agreement, said her attorney Paul Nelson. The suit alleged breach of fiduciary duty, intentional misrepresentation and invasion of privacy.

Peter Morton testified that he paid her a fair price for her stock, paid more than $2 million in alimony until April 2004, and provided a fashionable Los Angeles home where she lived rent-free.

Nelson said the jury's finding was "not what we'd hoped for," but
added that Tarlton Morton might get some relief when a judge hears her claim for unjust enrichment.

"We're very gratified," Nolan said. "Mr. Morton has been more than generous to his ex-wife."

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