CLR - Why the dip this week?

[dan_s]

Divorces are usually private matters – unless they involved billionaires and public shares.

Despite their best efforts to keep it under wraps, the split between Continental Resources CEO Harold Hamm and his wife, Sue Ann Hamm, has burst into the public eye. After Reuters broke the news yesterday on the pending divorce, Continental issued a statement saying that "Harold Hamm has announced that a petition for divorce is pending in the District Court of Oklahoma County. This private matter has not and is not anticipated to have any impact or effect on the Company's business or operations."

Reuters cited a court filing in which Sue Ann Hamm alleges that Harold "was having an affair" that she discovered in 2010.

Full article: http://www.cnbc.com/id/100582253?__sour ... &par=yahoo
----------------------------------------------
My take is that the divorce will have little or no impact on the company's operations but the final settlement may force Harold to sell a lot of shares, which could pressure the share price. Best result is that he just gives Sue the shares, but he probably won't want her on the board. - Dan