Court Throws Out Perelman's Fraud Claim Against Gagosian
A battle between titans of the worlds of finance and art has gone to Larry Gagosian, who beat back a lawsuit from Ronald Perelman over a deal gone sour. Mr. Perelman's fraud lawsuit against Mr. Gagosian, filed in 2012, was dismissed by a New York State appeals court panel on Thursday.The court granted Mr. Gagosian's motion to dismiss Mr. Perelman's suit alleging fraud in two sales agreements he had with Mr. Gagosian's gallery. In one agreement, Mr. Perelman was to purchase a Jeff Koons granite sculpture, "Popeye," with the intention of reselling the work.