Sears sues Eddie Lampert for looting company

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


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