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Ex-wife of Continental Resources CEO Sues over Investment

Forbes

 

OKLAHOMA CITY (AP) — The ex-wife of billionaire Oklahoma energy tycoon Harold Hamm is suing Hamm over the sale of a company the two co-owned.

Sue Ann Arnall's lawsuit alleges the $4.5 million sale of Jolette Oil LLC to Continental Resources in 2005 was below market value. It asks for damages in excess of $10,000.

Arnall and Hamm were divorced in November and Hamm paid nearly $1 billion as part of the divorce settlement. Arnall appealed — saying the amount is a fraction of the couple's $18 billion worth.

The Oklahoma Supreme Court dismissed her appeal.

The lawsuit filed Friday says Hamm sold Jolette Oil without Arnall's knowledge and that by the end of 2012 it was worth more than $900 million.