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Media mogul hits Justin Sun with countersuit in $78M sculpture dispute

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David Geffen has filed a counterclaim against Justin Sun, who sued him over ownership of a $78 million sculpture.
David Geffen, a billionaire and art collector, has filed a countersuit against cryptocurrency entrepreneur Justin Sun over a dispute involving a $5 million sculpture by Jeff Koons. The conflict arose when Sun, who had agreed to purchase the artwork from Geffen, failed to make the payment after the agreed-upon deadline. Geffen's countersuit claims that Sun breached their contract and seeks damages, while Sun had previously sued Geffen, alleging that Geffen backed out of the deal. The legal battle highlights the complexities and potential pitfalls of high-value art transactions involving cryptocurrency figures.

Read the Full CoinTelegraph Article at:
[ https://cointelegraph.com/news/david-geffen-hits-crypto-exec-justin-sun-with-countersuit-over-sculpture ]