I recently came across a story regarding an ex-husband taking his wife back to court. He claims that during their divorce his ex-wife failed to disclose that she had invested marital funds during the early stages of Twitter. As a New Jersey Divorce Lawyer, I have confronted this issue many times. Let’s explore a little deeper.
First, the “Great Twitter Caper.” Back in 2006, the wife (“Jennifer”) told her husband (“Stuart”) that she was going to California to see her brother. However, she was secretly meeting with her first husband and one of his friends, who happened to be one of Twitter’s “founding fathers.” Jennifer secretly gave him anywhere between $10,000 to $50,000 of the couple’s joint money that she had stashed away. Jennifer filed for divorce since months later.
Recently, Stuart went on ex-wife’s LinkedIn page, where she brags, “she is a first round investor in Twitter.” After getting as many facts as he could, Stuart filed suit in New York against Jennifer for fraud. Stuart further alleges that after Twitter’s recent successful IPO, the stocks could be worth anywhere between 1$0 to $50 million dollars.
Now, under New Jersey divorce law, the relevant Court rule explains that a party fraud is one of a handful of reasons to take an ex-spouse back to Court after the divorce has been finalized. However, the motion in a N.J. Divorce Court must be made “within a reasonable time frame,” which is typically one year.
It will be interesting to see how the “Great Twitter Caper” all shakes out. Outside of a confidentially agreement, you can be rest assured that The Law Offices of Edward R. Weinstein shall keep you posted.