Morgan Stanley ordered to pay $1.4B to Revlon chief
5th Sep 2005, 17:21 GMT
A Florida court has ordered Morgan Stanley to pay Ronald Perelman, the chairman of cosmetics firm Revlon, $850 million in punitive damages. The jury’s decision, which found the U.S. investment bank guilty of unethical behavior, brings to $1.45 billion the total sum owed to Perelman.
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