Friday, July 6, 2007

Billionaire Perelman appeals Morgan Stanley decision

(Reuters) - A divided panel of the Florida Fourth District Court of Appeal in West Palm Beach vacated the award in March, saying Perelman failed to prove damages because he did not show what Sunbeam shares would have been worth had there been no fraud.




In his appeal, filed on Thursday, Perelman said the majority erred in finding that he failed to prove damages, and in depriving him of a retrial where he could prove them.


Read more at Reuters.com Bonds News

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