• The E-Discovery "Wake-Up Calls" Keep Coming: Florida Jury Returns $1.45 Billion Verdict
  • September 14, 2005 | Author: David R. Cohen
  • Law Firm: Kirkpatrick & Lockhart Preston Gates Ellis LLP - Pittsburgh Office
  • On May 16, 2005, nine jurors in Florida returned a unanimous verdict for the plaintiff in the case of Coleman (Parent) Holdings, Inc. v. Morgan Stanley & Co., No. CA 03-5045 (15th Jud. Cir., Palm Beach Cty., Fla.). The jury ultimately awarded a total of $1.45 billion in damages ($604.3 million in compensatory damages and $850 million in punitive damages) to a company owned by financier Ronald Perelman. The defendant, Morgan Stanley, has stated that "it has multiple grounds on which to appeal, intends to pursue them to the fullest, and is confident that the decision will be reversed."