I'm shocked....
The holding company that formerly owned Kmart and Sears sued Treasury Secretary Steven Mnuchin and other former board members of ESL Investments as well as the company's ex-CEO, Eddie Lampert, accusing them of illegally stripping Sears of assets ahead of the company's bankruptcy filing.
USA Today reported Thursday that Sears Holdings filed a lawsuit targeting roughly two dozen figures including Lampert, Mnuchin, and others involved with ESL Investments, who the lawsuit alleges were involved in a scheme to "hinder, delay and defraud creditors and/or occurred when the Company was insolvent and had insufficient capital to continue its operations and to repay its billions of dollars in debt."
"Sears would have had billions of dollars more to pay its third-party creditors today and would not have endured the amount of disruption, expense and job losses resulting from its recent bankruptcy filing," had Lampert not taken actions instead to enrich himself and ESL Investments, the lawsuit alleges.