1. Sears Directors Tap Evercore to Examine Lormer CEO Eddie Lampert's Deals

    Sears Directors Tap Evercore to Examine Lormer CEO Eddie Lampert's Deals
    • Two Sears board directors have hired an investment bank to look into deals made by the company's former CEO Eddie Lampert before the company filed for bankruptcy.
    • The directors are questioning the ways the company separated its real-estate and Sear's businesses under Lampert's watch.
    • The directors say that doing so caused Sears to lose several valuable assets. They are consulting with the investment bank on whether Lampert's actions constituted legal actions against him...
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    1. ESL supported the board's decision to authorize the review.
    2. These cases are the last mile in a multi-year liquidation, one that happened without court supervision.
    3. All of the transactions that took place here, your honor, took place with the strictest of corporate governance oversight.
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