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I've always felt there was way more to this cynical, vulture capital financial engineering than we have been told about. The shareholder lawsuits have shone a
by olivermarks 8y ago
I've always felt there was way more to this cynical, vulture capital financial engineering than we have been told about. The shareholder lawsuits have shone a little light on Lampert's sketchy asset stripping behavior and slow motion starvation of Sears.
The successful lawsuit brought by individual investors who accused Sears of not properly overseeing deals to avoid conflicts of interest against Lampert, ESL, Seritage, and members of Sears' board of directors, which was won and cost Sears 44m.
https://www.scribd.com/document/338974154/Sears-settlement#from_embed?campaign=SkimbitLtd&ad_group=35871X943606X8ab638dbad32c97fe3eda5300ebaa887&keyword=660149026&source=hp_affiliate&medium=affiliate https://www.scribd.com/document/338974154/Sears-settlement#f...
you would think Sears board member Steven Mnuchin would now be ineligible for political office, but no... incredibly he's current United States Secretary of the Treasury as part of the Cabinet of Donald Trump.