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Three women plot revenge on their two-timing husbands in this comedy. Brenda (Bette Midler), Elise (Goldie Hawn), and Annie (Diane Keaton) were close friends in college, but 27 years after graduation they've lost touch with each other, and it's not until a mutual friend of the three commits suicide that they meet at the funeral for the first time in years.
It seems that their friend grew despondent after her husband left her for a younger woman, and all three find themselves in similar situations. Elise is an actress who finds herself out of work now that she's seen the shady side of 40, and her husband and producer Bill (Victor Garber) is demanding a divorce (and half of her fortune).
Brenda helped her husband Morton (Dan Hedaya) open a profitable chain of discount electronics stores, but now that his commercials have made him a minor celebrity, he's taken up with a much younger (and thinner) woman.
Annie has allowed her husband Aaron (Stephen Collins) to use her as a doormat throughout their marriage, and she's at a loss now that he's leaving her.
After comparing notes, Brenda, Elise, and Annie decide that it's time to do something about their problems, and they hatch an elaborate blackmail scheme that will win them control of their ex-husband's businesses and allow them to do something positive with the money they helped earn. Heather Locklear and Ivana Trump both make cameo appearances.