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Thursday April 07, 10:26
Morgan Stanley ready for trial with Perelman
(by Olivia Cohen)

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Morgan Stanley ready for trial with Perelman Morgan Stanley is getting ready to the trial with financier Ronald Perelman, Revlon Inc. chairman, that has filed a lawsuit against the world’s biggest investment bank.

Perelman’s $2.7 billion lawsuit against Morgan Stanley cast a shadow on the company’s former president Robert Scott who was questioned about his executive capabilities as the possible successor of Chief Executive and Chairman Philip Purcell.

Purcell’s attempts to hold power in the company led to the current weak state, some market analysts say.

Scott is one of the most possibly taken candidacies for the chair in the Morgan Stanley as he is strongly backed by seven former Morgan Stanley executives.

"Everybody’s sorry to see a couple of good guys go. But we are a tough bunch and have such a depth of talent and power and strength we won’t spin apart," said Mitchell M. Merin, president of Morgan Stanley Investment Management about the board’s choice.
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Read the related news and articles:
20 May 2005 09:58 AM Morgan has to pay Perelman $1.45 billion
20 May 2005 05:38 AM MORGAN STANLEY RAISED CLARIANT TO "EQUAL-WEIGHT"
19 May 2005 10:47 AM Morgan Stanley’s ads will be pulled out from media with negative publications
18 May 2005 09:00 AM MORGAN STANLEY RAISED ELECTROLUX TO "EQUAL-WEIGHT" FROM "UNDERWEIGHT"
17 May 2005 07:49 AM Morgan Stanley ordered to pay out $604 mln to Perelman
 


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