Cher Is Suing An L.A. Billionaire She Says Duped Her Into Selling Valuable Stocks

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Cher is suing a billionaire, Patrick Soon-Shiong, she claims duped her into selling shares of biopharmaceutical company, Altor, right before it hit big.

According to the Los Angeles Times, Cher didn’t know Altor was on the verge of making loads of money when she sold shares back for a fractions of the price. The suit says she sold her stocks in January 2016 for $450,000 — all without them telling her the company was making huge progress in treating cancer and HIV.

Now, the company is worth over $1 billion.

“The lawsuit has no merit,” Michael Sitrick, spokesperson for Patrick, said. “We intend to vigorously defend against it.”