Billionaire financier Ron Perelman won $604.3 million in compensatory damages Monday in his lawsuit accusing the investment firm Morgan Stanley of duping him into believing a company was financially successful. The jury said it found clear and convincing evidence that Perelman, the Revlon cosmetics chief, relied on false statements that Sunbeam Corp. was a turnaround success and could afford to acquire his camping equipment company. Still to be weighed: Perelman's claim for $2 billion in punitive damages.
May 17, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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