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Billionaire financier Ronald Perelman testified Tuesday he would never have sold a camping gear company to Sunbeam Corp. in 1998 without assurances from Morgan Stanley & Co., the investment bank that underwrote the deal, that Sunbeam had turned the corner and that "its financial future looked bright." Appearing before a Florida jury in the second week of a damages-only trial on his fraud suit against the investment banker, Perelman said, "We did not expect them [Morgan Stanley] to lie to us, to mislead us."
April 20, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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