Perelman Awarded an Additional $850 Million in Punitive Damages in Coleman v. Morgan Stanley
These damages bring the total awarded Perelman to $1.45 billion in this landmark case where Judge Maas ruled that Morgan Stanley had conspired with Sunbeam to defraud Perelman. Judge Maas’ ruling was due to frustration caused by Morgan Stanley’s failure to produce email.
In his closing argument, Morgan Stanley attorney Mark Hansen said that the failure to produce email was due to error and was not indicative of efforts to conceal evidence.
Click here for the story from Reuters.