“Repercussions of Eddie Lampert’s $18M Payment to Sears Hometown Investors”

Sears Hometown Shareholders Win $18 Million Lawsuit Against Billionaire Eddie Lampert

A Delaware judge has ruled that billionaire Eddie Lampert must pay $18 million to shareholders of Sears Hometown and Outlet Stores Inc. This comes after shareholders accused Lampert of short-changing them in 2019 when he bought out minority investors in the company he controlled. Vice Chancellor Travis Laster, the judge on Delaware’s Court of Chancery, ruled that Lampert owed $1.78 per share plus interest to the investors, who initially received $3.21 per share. Lampert used his power as a majority shareholder to buy the company at a lower price after blocking the company’s plan to liquidate its ailing Hometown business.