Thursday, December 13, 2007
The well-publicized litigation between Ron Perelman and Morgan Stanley is now over, as the Florida Supreme Court refused to hear Perelman's appeal. In 2005 a jury awarded Perelman $1.58 billion in his claim that Morgan Stanley defrauded him in a deal in which he purchased Sunbeam Corp. stock, that ultimately became worthless. Earlier this year the appeals court threw out the verdict, saying that Perelman had not proved his damages. NYTimes, Florida Court Rejects Claim, a Boon for Morgan Stanley.