Ron Perelman Settles $471 Million 1990s Marvel Case for $80 Million

The financier Ron Perelman has apparently settled an almost half-billion dollar suit for an amount just over $80 million, almost a third of which will go to legal fees. This isn't an unexpected outcome, and in fact, I thought this had been settled in similar fashion like six years ago after initially having been overturned and then re-trenched at a later hearing. Perelman was accused of diverting the proceeds earned by his controversial goosing of Marvel stock and bizarre entertainment empire building strategy -- basically overpaying in spectacular fashion for a series of interlocking hobby properties -- into other businesses he owned, and the lawsuit was one of the first parts of the legal back and forth that dominated Marvel's corporate operations in the late 1990s. Hopefully this will end any and all hangovers from the era where Perelman and a few others treated Marvel like a character in a late-period Tom Sutton comic.
 
posted 7:55 am PST | Permalink
 

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