Sears has sued its former CEO Eddie Lampert, along with his hedge fund and company directors including Steven Mnuchin, accusing them of siphoning away billions of dollars worth of assets
Sears Holdings Corp. sued Eddie Lampert, his hedge fund ESL Investments Inc. and others associated with ESL and Sears, accusing them of siphoning off billions of dollars worth of assets as the retailer racked up huge losses.
The lawsuit, filed by the bankruptcy team winding down what is left of the company after Mr. Lampert’s recent purchase of Sears stores, alleges the hedge-fund manager and the fund’s board directed executives at the retailer to produce rosy financial projections for a big turnaround even as it accumulated...
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