Susan Decker and Michael Dovey announced on Monday that they have settled what has been a bitter and acrimonious divorce case that has lasted over four and a half years.
Decker is the former president of Yahoo and Dovey is a former investment banker at Montgomery Securities. The couple met at Harvard while they were getting their MBAs and married on July 4, 1992. They have 3 children together.
Decker filed for divorce in October 2007 in Marin County Superior Court. Negotiations were going relatively smoothly over the division of approximately $71 million in real estate and liquid asset holdings, including residences in Belvedere, Laguna Beach, and Lake Tahoe. The couple also owned 2 sailboats, 5 motorcycles, four San Francisco Giants season tickets, memberships at the San Francisco Yacht Club and Stanford Golf Club, and 8.8 hours on a Marquis Jet account.
However, the case became a scorched-earth legal battle in 2009 when a confidential letter from Dovey’s lawyers alleging that Decker had extramarital affairs, bugged one of the couple’s homes to spy on him, and engaged in illegal drug use was leaked to the website Gawker, generating a media firestorm. Decker leveled similar charges of infidelity and drug use against Dovey.
Decker and Dovey released a joint statement about their settlement, which provides in part: “As in any acrimonious divorce, certain statements were made by the parties in the process of litigation that were reckless and inaccurate. We deeply regret this.”
According to court documents, the couple has already divided 70% of their assets. Decker and Dovey reached a settlement on Sunday, on the eve of a scheduled trial.
Source: Silicon Valley Mercury News, “Ex-Yahoo president, husband settle bitter divorce case,” Gary Klien, April 22, 2012