Jury: Billionaire's company must pay attorney $16M

NEW YORK (AP) — A New York jury has ruled that the company through which billionaire Ronald Perelman accumulated much of his wealth must pay his former longtime friend $16 million.

The jury announced its verdict late Friday afternoon, ending a four-day trial. Attorney Donald Drapkin was awarded the money his lawyers had argued that he was owed after he left MacAndrews & Forbes in May 2007.

Drapkin said Perelman had promised him the money when he left the firm but then reneged. The company accused Drapkin of violating the contract. The jury found otherwise. Perelman did not testify at the trial.

Perelman's lawyer didn't immediately return a message for comment.

The trial was unusual because it involves a relatively small amount of money given the net worths of the former best friends.