Perelman'felt Lied To' On Deal by Morgan Stanley

Evening Standard - London › April 22, 2005

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Summary

BILLIONAIRE financier Ronald Perelman felt deceived by investment bank Morgan Stanley over the deal in which he sold his 82% stake in camping goods firm Coleman to Sunbeam only to see his investment plummet.

"I felt lied to," Perelman told a court in Florida where he is suing the embattled finance giant for $2.7 billion (Pounds 1.4 billion) in damages.

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Extract

Perelman'felt Lied To' On Deal by Morgan Stanley

Perelman, chairman of cosmetics giant Revlon, alleges Morgan Stanley knew of accounting irregularities a...

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