Gillette accused Perelman of insider trading.

The Boston-based company claimed that Revlon Group Chairman Ronald O. Perelman gave inside information to professional traders as part of his $4.1-billion attempt to take over the consumer products giant. Perelman responded by branding Gillette’s accusation “a desperate and untruthful attempt to taint this offer in light of totally unrelated events of the past week. The charges are totally without merit and self-serving.” Drexel Burnham Lambert, which itself is involved in investigations of insider trading, is helping finance Revlon’s bid.