Sunbeam Woes Remain As Bankers Move On

Lugo, Denise
February 2005
Investment Dealers' Digest;2/28/2005, Vol. 71 Issue 8, p10
Trade Publication
The article focuses on the fraud charges faced by Morgan Stanley & Co. Inc. A banking team at Morgan Stanley advised Sunbeam Corp., the company that cost the firm $300 million in debt it couldn't unload. The bank is facing a $2.7 billion fraud claim from Revlon Inc. chairman Ronald Perelman. Perelman sold his 82% stake in camping gear maker Coleman Co. to appliance maker Sunbeam in 1998 for $1.5 billion in Sunbeam stock and he is now suing Morgan Stanley, which represented Sunbeam in the deal.


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