http://finance.yahoo.com/news/investors-reach-40-mln-settlement-194145655.html
7 replies (most recent on top)
Eddie actually controls about 50% of Seritage
Lampert owns more than 9.6 %. That is just what he owns under his personal name. He also owns a lot more under his ESL hedge fund and other affiliated subsidiaries.
The Board of Directors is Sears. What they should have said is they failed to protect the pension fund. They are still tiptoeing around that one.
They all allowed it to happen. They knew what they were doing when they created Seritage.
@npz - While all of the investors would have had a stake in SHLD, extremely few would have had a stake in Seritage. However, Eddie is a major investor in Seritage with an approximately 10% stake in the company.
There was a post awhile back that cautioned about Mr. Mnuchin, nominee for Treasury Secretary, and his relationship to Eddie and SHLD. Surprise, surprise, according to the article Mr. Mnuchin allegedly turned a blind eye to the deal in order to enrich Eddie at the expense of SHLD; quote below.
The rest of the Sears' board, which includes Steven Mnuchin, who is currently the nominee to be U.S. Treasury secretary, were alleged to have failed to properly oversee the deal and protect the interests of Sears.
Unbelievable.
Dirtiest company I have ever worked for.
I don't understand this. So the in esters sued themselves?
They all own a stake in all of this don't they?
This is confusing.