Sears Sues

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According to CNN, the remains of defunct Sears Holdings is suing Eddie Lampert, the man who was its previous CEO and primary shareholder, alleging he improperly stripped the company of assets as it hurdled toward bankruptcy.

Questions:

  1. In addition to Eddie Lampert, who else is named in the suit for the theft of Sears’ assets?
  2. What Sears assets were spun off and ultimately had Lampert as a major shareholder?
  3. What is the potential success for this type of lawsuit?

Source:

Isidore, C. 2019. Sears sues former CEO Eddie Lampert for ‘thefts’ of company assets. CNN, April 18 (Retrievable online at
https://www.wsj.com/articles/sears-sues-ex-ceo-eddie-lampert-claiming-he-stripped-assets-and-left-it-broke-11555597288 )