Sothebys Forked Out $20 Million In Legal Battle Against Dan Loeb

Sothebys (NYSE:BID) disclosed in its earnings call Monday that it had spent $20 million in its legal battle with Dan Loeb, with half going towards reimbursing Loeb for his legal bills. Back in May, the auction company pegged the legal cost at $15.7 million. Nearly 50% of Sothebys nine months net income Sothebys (NYSE:BID) unveiled its third-quarter results Monday, highlighting a 120% improvement in adjusted pretax income in the first nine months of 2014. The auction company attributed the strong performance to a strong global art market and increased sales worldwide. The auction house’s adjusted net income for the nine months…