Kerkorian investor sues over Colorado investment
December 9, 2011 - 2:02 am
DENVER -- Billionaire Kirk Kerkorian is suing an adviser who got him to invest more than $680 million in a Colorado company.
Kerkorian filed a lawsuit in Clark County claiming Edward Davis and others misrepresented the assets of Denver-based Delta Petroleum.
According to The Denver Post, Delta reported a $458 million net loss over nine months ended in November and said it had been unable to find a buyer for some of its assets to raise cash. The company says restructuring is likely.
Davis could not be reached for comment Wednesday.