World renowned singer and actress, Cher, 71, is taking legal action against a pharmaceutical company, alleging that they tricked her into selling soon-to-be valuable stock just before a medical breakthrough that sent the price into the stratosphere, according to TMZ.
The iconic diva owned 300,000 shares of Altor back in 2013, but TMZ is reporting that two years later, a company official talked her into letting them buy her shares back. Now, according to documents, this person withheld pertinent information about successes with clinical trials relating to HIV and cancer research.
TMZ added that Cher claims that what the man didn't let her in on was how they had made a significant breakthrough in both these diseases.
In the lawsuit filed Friday, she is suing surgeon and entrepreneur Patrick Soon-Shiong of fraud connected to her investments in Florida-based Altor for unspecified damages.
TMZ tried to contact Altor for comment but has yet to hear back.