Thursday, March 22, 2007

Perelman's $1.5 Billion Judgment vs. Morgan Stanley Reversed

Morgan Stanley Inc. won a reversal of the $1.58 billion verdict handed to billionaire Ron Perelman for misleading him in a deal to sell Coleman Co. to Sunbeam Corp. The Florida Court of Appeal in West Palm Beach ruled that the firm was punished unfairly for destroying e-mails involved in the transaction.

According to the AP, this decision is expected to be appealed.
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