Wednesday, December 14, 2005

Morgan Stanley Says 'Record Is Clear' That Florida Judge Erred

Morgan Stanley is appealing the record 1.5 billion dollar fraud verdict against it in favor of Ron Perelman, which included $850 million in punitive damages. Although apparently only a minor issue on appeal, the verdict was in large part the result of severe discovery sanctions imposed by the Court on Morgan Stanley. The court had barred certain evidence because of Morgan Stanley's discovery failures.
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