Judge adds $130M to verdict against Morgan Stanley

[JURIST] A judge has added $130 million to the $1.45 billion verdict against Morgan Stanley [corporate website] a jury awarded last month [JURIST report] to billionaire financier and Revlon Inc. chairman Ron Perelman. The judge took off about $84.5 million because of previous settlements, but added more than $208 million in interest. Perelman attorney, Jack Scarola said he believed a settlement was possible because more than $300,000 in interest accrues every day. Morgan Stanley spokesman Andrew Walton reiterated the company's previous statement [press release] that it will appeal the verdict. AP has more.

 

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