1. Perelman Wins Punitive Award Of $850 Million.
- Author
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Craig, Susanne
- Subjects
- *
DAMAGES (Law) , *TRIALS (Fraud) , *INVESTORS , *CORPORATE raiders , *CIVIL procedure , *CHIEF executive officers , *JUDGES , *ACTIONS & defenses (Law) , *LEGAL judgments , *COMPENSATION (Law) , *DAMAGE claims , *EXECUTIVES , *JURY - Abstract
Reports that Morgan Stanley must pay billionaire financier Ronald Perelman $1.45 billion in punitive and actual damages after a Florida state-court jury ruled that Morgan Stanley had behaved improperly when Perelman sold one of his companies to Sunbeam Corporation. Background on the civil lawsuit and total damages awarded to Perelman; Background on Perelman, chairman of cosmetics giant Revlon Inc. and legendary corporate raider; Focus on a number of senior executives at Morgan Stanley; Views of analysts; How the large verdict award comes at an awkward time for Philip Purcell, chief executive of Morgan Stanley, who has been facing a group of former executives who seek his ouster; Role of Judge Elizabeth Maass.
- Published
- 2005