Sue Ann Hamm, the ex-wife of Oklahoma oil magnate Harold Hamm who was awarded cash and assets worth more than $1 billion in the couple's divorce this week, plans to appeal the judgment on grounds that it grossly undervalues the marital wealth she is entitled to.
Claiming she was shortchanged by a ruling that allows the Continental Resources chief executive officer to keep nearly all of an estimated $18 billion rise in his Continental shares during a 26-year marriage, Sue Ann Hamm plans to appeal the decision, Ron Barber, one of the attorneys on her legal team, told Reuters on Thursday."Sue Ann is disappointed in the outcome of this case. She dedicated 25 years as Harold's faithful partner in family and business,'' Barber told Reuters. "She plans to appeal the court's decision.'' The Hamm v. Hamm divorce judgment is one of the largest in U.S. history, but the award to Sue Ann is a small fraction of the wealth Haralson allowed Harold Hamm to keep. The CEO holds more than 68 percent of Continental's stock, a stake valued at around $13.5 billion today. It was worth more than $18 billion before the 9 1/2-week divorce trial began in August. Continental shares have fallen sharply since then, in line with global oil prices.
IN-DEPTH
-- Reuters