We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Sam Wyly's Ex-Wife Sues For Cut Of Disputed Stock Holdings

Law360, New York (January 27, 2015, 2:45 PM EST) -- The ex-wife of Sam Wyly on Monday sued the former Michael’s Stores Inc. chairman in Texas bankruptcy court, saying the former billionaire concealed the amount of stock he controlled during their divorce proceedings.

Torie Steele, who was married to Wyly from 1978 to 1991, said the U.S. Securities and Exchange Commission’s successful prosecution of Wyly and his late brother Charles Wyly for an elaborate securities fraud scheme proves he defrauded her as well as investors.

A federal jury in May found in favor of the SEC in its case accusing the Wyly brothers of improperly using foreign trusts to sell shares...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!



Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.



Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only


Texas Northern

Nature of Suit

Date Filed

October 19, 2014

Law Firms

Government Agencies