Report: Hulk Hogan suing ex-wife and Wells Fargo
Nov 16, 2010 - by Steve Gerweck
Reported by Adam Martin of Wrestleview.com
According to a press release issued to PWInsider by the Florin/Roebig Law Firm out of Florida, Terry “Hulk Hogan” Bollea filed an amended lawsuit today in the Pinellas County Florida Circuit Court against Wells Fargo Insurance Services Southeast, Wells Fargo Insurance Services, USA and his ex-wife Linda.
The suit is a response to the August 2007 incident where Hogan’s son Nick was driving his car and crashed causing severe injuries to John Graziano. The Graziano family brought a highly publicized lawsuit against Hogan in 2008, which is when Hogan discovered he was only insured for $250,000 in personal liability. He had no excess insurance coverage to protect his fortune of more than an estimated $30 million.
Hogan’s current lawsuit points out that under oath during divorce proceedings, Linda said she was Hogan’s “business manager” showing that the threesome owed Hogan a “fiduciary duty under Florida law to act in his best interest in regard to adequately protecting his assets in the event of a potential third party liability claim against him for automobile accidents involving vehicles own by Hogan.” The suit claims all parties had a duty to tell Hogan he needed more insurance when he didn’t have it. Hogan did settle with the Graziano’s for in excess of $250,000 that he was insured for and claimed the excess amount he was forced to pay was due to the three parties not “doing their duties.” Hogan is currently suing for full recovery of said assets.