Sears sues former CEO Eddie Lampert, Treasury Sec. Mnuchin and others for allegedly stealing billions of dollars from the once-storied retailer.
Sears on Thursday lodged a lawsuit against its former Chief Executive Officer Eddie Lampert and a string of its high-profile past board members, including Lampert's former Yale roommate, Treasury Secretary Steven Mnuchin, for allegedly stealing billions of dollars from the once-storied retailer.
Those allegations laid the groundwork for the unsecured creditors to pursue their claims against Lampert and others on behalf of Sears. Lampert had requested a release from potential ligation as part of his deal to buy Sears out of bankruptcy but was denied the protection. The suit names numerous defendants besides Lampert and Mnuchin, including two high-profile directors: Bruce Berkowitz, a hedge-fund manager who was a large investor in Sears, and Kunal Kamlani, president of ESL.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sears Sues Ex-CEO Eddie Lampert, Claiming He Stripped Assets and Left It BrokeA lawsuit accuses Eddie Lampert, his hedge fund ESL Investments, and various directors of ESL and Sears of siphoning away billions of dollars of assets as the company racked up huge losses.
Read more »
Sears sues Lampert, claiming he looted company and drove it into bankruptcySears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Inv...
Read more »
Sears sues ex-CEO Lampert, Treasury's Mnuchin, others for 'thefts' from bankrupt retailerSears lodged a lawsuit against its former CEO, Eddie Lampert, Treasury's Mnuchin, and others for allegedly stealing billions from the retailer.
Read more »
Sears sues ex-CEO Lampert, Treasury's Mnuchin, others for 'thefts' from bankrupt retailerSears lodged a lawsuit against its former CEO, Eddie Lampert, Treasury's Mnuchin, and others for allegedly stealing billions from the retailer.
Read more »
Sears Sues Ex-CEO Eddie Lampert, Claiming He Stripped Assets and Left It BrokeA lawsuit accuses Eddie Lampert, his hedge fund ESL Investments, and various directors of ESL and Sears of siphoning away billions of dollars of assets as the company racked up huge losses.
Read more »
Sears sues Lampert, claiming he looted company and drove it into bankruptcySears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Inv...
Read more »
Apple and Qualcomm’s Billion-Dollar StaredownThe tech titans’ patent dispute has become one of the ugliest corporate battles in history. A frosty relationship between the companies’ CEOs, Tim Cook and Steve Mollenkopf, has deepened the divide.
Read more »
Singapore's airport goes for retail high with billion-dollar mallA sprawling retail complex with the world’s tallest indoor waterfall: Singapore's airport goes for retail high with billion-dollar mall by RDchatters
Read more »
Venezuela 'new government' could get $10 billion in trade financing: MnuchinA group of finance ministers is working on a $10 billion package of trade financ...
Read more »