Steve Wynn Sues for Picasso-Poke Cash

Back in October of last year, we ran a little guessing game about who had leaked the story of Las Vegas casino mogul Steve Wynn poking a hole in his Picasso painting just before he was about to sell it for $139 million. Now, Wynn is suing insurer Lloyd's of London in Manhattan's U.S. District Court, attempting to make them expedite processing of his claim for $54 million in lost value. (Apparently, Picasso's "Le R ve" is still worth $85 million even with the hole.) Lloyd's wants Wynn to formally name the depreciation figure first, after which they'll "agree or disagree." A restraining order has been issued versus Wynn's extremities for the duration of the restoration.

Mogul files lawsuit over a Picasso [AP]

Earlier: Max Bernstein: No Leak I