Perelman Decries Morgan Stanley Appeal

Law360, New York (February 14, 2006, 12:00 AM EST) -- Financial mogul Ron Perelman has urged a judge to uphold the $1.45 billion verdict he won against Morgan Stanley last year, blasting the brokerage for appealing the decision.

In a brief filed with the Florida court, Perelman applauded the judge’s decision to impose the steep sanctions on the bank. He said that the court correctly applied Florida law and that neither the ruling nor the monetary penalty was excessive.

Perelman, the billionaire chairman of Revlon Inc., was awarded $604.3 million in compensation and $850 million in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.