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Manhattan Judge Tosses Out Ex-Wife's 'Wall Street 2' Lawsuit Against Michael Douglas

By DNAinfo Staff on November 15, 2010 5:23pm

Michael Douglas, who won an Oscar for his performance as Gordon Gekko in the original
Michael Douglas, who won an Oscar for his performance as Gordon Gekko in the original "Wall Street," poses with "Wall Street 2" co-star Shia LaBeouf.
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Andrew H. Walker/Getty Images

By Shayna Jacobs

DNAinfo Reporter/Producer

MANHATTAN SUPREME COURT — If Michael Douglas's ex-wife wants to get a piece of the actor's earnings from "Wall Street: Money Never Sleeps," she'll have to take her case to California, a Manhattan judge ruled Monday.

Even though both Douglas and his ex reside in New York County, Manhattan Supreme Court Judge Matthew Cooper ruled that it's not the appropriate place for Diandra Douglas's claim because her divorce from the actor was finalized in California.

"I respectfully disagree with the judge and we plan to appeal," Nancy Chemtob, Diandra's lawyer, told DNAinfo.

Jurisdiction notwithstanding, under the terms of their separation agreement, Diandra is entitled to 50 percent of Michael's continued earnings from the original "Wall Street" and every other movie he made up to their 1995 separation, the New York Post reported when the trial began in August.

Chemtob's argument is that Diandra is entitled to a portion of the star's earnings from "Wall Street II" because it's part of the "Wall Street" franchise, the paper reported.

But Michael's lawyer argued that because "Wall Street II" was a sequel, and not a "spin-off," Diandra was not entitled to the money, the Post reported.

Michael, who won a Best Actor Oscar award for his 1987 portrayal of Gordon Gekko in the original "Wall Street," confirmed that he'd been diagnosed with stage-four throat cancer in August on the "Late Show with David Letterman."