March 22, 2007 |
Morgan Stanley won a major victory Wednesday when a divided Florida state appeals court threw out a $1.58-billion award to billionaire Ronald Perelman over his 1998 sale of camping equipment company Coleman Co. to Sunbeam Corp. Perelman had accused Morgan Stanley of fraud in helping Sunbeam, an appliance maker, hide its shaky finances while arranging the $1.5-billion Coleman purchase.
February 7, 1998 |
Some shareholders of Golden State Bancorp are asking a Delaware judge to stop financier Ronald Perelman from taking control of the California thrift in a $2.5-billion merger, saying investors are being shortchanged in the transaction. Perelman said Thursday his thrift, First Nationwide Holdings Inc., would take control of Glendale-based Golden State, the holding company for Glendale Federal Bank, in a reverse merger to form the nation's third-largest savings and loan.
June 21, 2006 |
Panavision Inc. said a board committee had approved an $8.50-a-share offer from controlling stockholder and co-Chairman Ronald Perelman for all of its publicly traded stock. The offer by Perelman's MacAndrews & Forbes Holdings Inc. marks an increase from $8 a share, Woodland Hills-based Panavision, a maker of movie cameras, said in a regulatory filing. Perelman controls 97% of the company, according to Bloomberg data, and Sony Corp. owns 714,300 shares, or 1.8%.
September 19, 1994 |
When federal regulators awarded a series of extraordinarily generous deals to private investors to take over a group of failed savings and loans in late 1988, an outraged Congress forced the government to pare back the agreements. But despite the congressional intervention, one of the biggest beneficiaries of the '88 deals is still reaping large rewards from the bargain he struck with Washington.
May 17, 2005 |
Billionaire financier Ron Perelman won $604.3 million in compensatory damages Monday in his lawsuit accusing investment firm Morgan Stanley of duping him into believing a company was financially successful. The state court jury in West Palm Beach, Fla., said it found clear and convincing evidence that Revlon Inc. Chairman Perelman relied on false statements that Sunbeam Corp., which later changed its name to Sunbeam Products Inc.
July 15, 2005 |
Billionaire financier Ronald Perelman lost an appeal of a lawsuit that accused him of diverting $553.5 million in notes issued by Marvel Entertainment Co. when he was its controlling shareholder. He now faces the prospect of a trial. Marvel, the world's largest comic book company before it filed for bankruptcy protection in 1996, publishes Spider-Man, X-Men and the Incredible Hulk comics.
March 8, 1997 |
Bondholders of Marvel Entertainment Group Inc. claimed victory Friday in the latest round of their fight with financier Ronald Perelman for control of the publisher of Spiderman, X-Men and the Incredible Hulk comics. The bondholders, led by investor Carl Icahn, said Friday that Marvel, which filed for Chapter 11 Bankruptcy Court protection in December, agreed to consider their plan to reorganize the company. As a result, Perelman's group withdrew its competing reorganization plan for Marvel.
November 18, 1993 |
Perelman Invests in TV Infomercial Producer: Financier Ronald Perelman has bought a one-third stake for $25 million in Palm Desert-based infomercial TV producer Guthy-Renker Corp. Guthy-Renker, which had revenue of more than $70 million last year, has produced about a dozen leading infomercials. Perelman's other major interests include a controlling stake in the SCI Television Inc. group of TV stations, New World Entertainment, Genesis Entertainment and Marvel Entertainment.
April 14, 2005 |
The man who served as billionaire Ronald Perelman's chief negotiator in a corporate deal that soured testified Wednesday that he relied on Morgan Stanley's advice during those talks. Perelman is suing Morgan Stanley for $2.7 billion in damages, alleging that the investment bank knew of accounting irregularities at its client, appliance maker Sunbeam Products Inc., but concealed them so Sunbeam could buy Perelman's stake in camping equipment company Coleman Inc.