Friday, January 27, 2006

Do NOT be pissin' off da Judge

2. Investment bank error in your favor. Collect an additional $1.43 billion.
The judge in billionaire Ronald Perelman's lawsuit against Morgan Stanley, exasperated by the latter's delays in handing over documents, instructs jurors to assume that the firm committed fraud. The bank insists it isn't stonewalling, just running into technology glitches. The jury awards Perelman -- who had sued Morgan over its role in his sale of Coleman to Sunbeam for stock that became worthless after an accounting scandal led to bankruptcy -- $1.45 billion in damages. Perelman had reportedly offered to settle for $20 million.

That'll sting.

Might be an object lesson for the Democratic/Liberal Establishment Leadership here, vis-à-vis a certain Supreme Court nominee....

via Ish.


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