Monday, May 16, 2005 - Perelman Beats Morgan Stanley

Morgan Stanley lost its legal fight against financier Ronald Perelman, who a jury says relied on representations made by the investment bank when he sold his camping-gear company Coleman to Sunbeam in 1998. The jurors awarded Perelman $604.3 million in compensatory damages. Punitive damages could bring Morgan's overall hit to more than $2.5 billion. - Perelman Beats Morgan Stanley
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