Sotheby’s Expenses During Board Battle Total $20 Million

November 11th, 2014

An article on CNBC this week notes that the battle for control of Sotheby’s auction house against investor Dan Loeb cost the company upwards of $20 million in fees for legal defense and a $10 million reimbursement to Loeb for his own fees.  The full total in expenses makes up nearly half of the company’s net income during the time period.Read more at CNBC