Monday, April 22, 2019

ESL Investments responds to ‘baseless’ allegations in Sears lawsuit

Chain Store Age
ESL Investments has responded to the federal lawsuit filed on Thursday by Sears Holdings Corp.

The suit that accuses former CEO Eddie Lampert, his ESL Investments hedge fund and others associated with Sears of stripping the chain of some two billions of dollars worth of assets even as the retailer racked up huge losses.

In a statement emailed to Chain Store Age, ESL Investments said it “vigorously disputes” the claims in the complaint, which repeats “baseless allegations and fanciful claims. “As we have previously said, the debtors’ allegations are misleading or just flat wrong.”. . . more