Perelman wins $1.4B in financial lawsuit
Financier Ronald Perelman, who received his undergraduate and graduate degrees from the Wharton School in 1964 and 1966 respectively, won a $1.4 billion judgement Tuesday in a Florida court against investment-banking firm Morgan Stanley.
This amount includes $604.3 million in compensation and $850 million in punitive damages.
Perelman, chairman of cosmetics giant Revlon, claimed that Morgan Stanley defrauded him when he sold camping-gear maker Coleman, Inc., to Sunbeam Corp., a client of Morgan Stanley, in 1998.
Morgan Stanley is expected to appeal the verdict after expressing its displeasure with the "prejudicial rulings" imposed by Florida State Judge Elizabeth Maass.
? Ian Zuckerman
VP Nunery resigns
Vice President for Business Services Lee Nunery will step down from his post effective June 1. Nunery has accepted the position of president of the charter schools division of Edison Schools, Inc., in New York.
In his current role, Nunery has overseen the major corporate arm of the University ? including parking, dining, hotel, housing and transportation services ? since his appointment in 1999.
One highlight of Nunery's career at Penn was the launch of Sansom Common following a massive construction project that included the Penn Bookstore and the Inn at Penn.
Having received his doctorate in education from Penn's Graduate School of Education in 2002, Nunery has also been heavily involved in the University's community relations through engagement programs like West Philadelphia Initiatives.
Before accepting his position at Penn, Nunery served as vice president of both human resources and business services at the National Basketball Association.
Associate Vice President of Business Services Marie Witt will serve in an interim role upon Nunery's departure.
? Marissa Montenegro
SEAS grad student dead after car crash
Daniel Goldstein, a student in the Executive Master's in Technology Management Program, died April 24 of injuries sustained in an automobile accident.
Goldstein received a master's in engineering from Penn in 2001 and was scheduled to receive his MSE in August. He was 29.
? Ryan Jones
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