Revlon Mogul, NY Art Dealer File Dueling Lawsuits

09/13/2012 10:15 am ET | Updated Sep 13, 2012

NEW YORK -- Billionaire Ronald Perelman and a top New York City art dealer have traded lawsuits over several artworks including a sculpture of Popeye by Jeff Koons.

The Revlon mogul and Larry Gagosian (gah-GOH'-zee-ahn) filed the dueling lawsuits within hours of each other in Manhattan State Supreme Court.

Perelman's suit says Gagosian didn't inform him of a secret deal with Koons that would have guaranteed the art dealer substantial profits. He claimed that deal hurt his ability to resell "Popeye" at a substantial profit.

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