Sears sues Eddie Lampert for looting company

www.cnbc.com/2019/04/18/sears-sues-eddie-lampert-steven-mnuchin-others-for-alleged-thefts.html

  • Sears accuses its former CEO Eddie Lampert of stealing billions of dollars from the once-storied retailer.
  • Sears Holdings filed for bankruptcy in October, after years of losses under Lampert, who was then its chairman, CEO and largest shareholder.
  • “Altogether, Lampert caused more than $2 billion of assets to be transferred to himself and Sears’ other shareholders and beyond the reach of Sears’ creditors,” the lawsuit alleges.

File this under “Things I’m Surprised Didn’t Happen Years Ago”.

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