Court Rejects $1.58B Appeal In Morgan Stanley Case

Law360, New York (December 13, 2007, 12:00 AM EST) -- The Florida Supreme Court on Wednesday rejected an appeal by billionaire Ronald Perelman requesting that the high court reinstate a $1.58 billion verdict against Morgan Stanley in a dispute over the acquisition of Coleman Company Inc. by Sunbeam Corp.

The Supreme Court said in a one-page order that it was declining to accept jurisdiction. A spokeswoman for Perelman, Chris Taylor, said Thursday, “We accept the court's decision and will abide by it.”

Allyson Cruz, a spokeswoman for Morgan Stanley, said the firm was pleased with the...
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