So it would appear that Sears Holdings shareholders are FINALLY getting the drift that Eddie Lampert doesn't care for the company. So they have decided to sue because they "object to the sale of valuable stores that the company happens to own to real estate investment trusts." In other words, it would appear that REIT plan (also known as Strategic Growth) has served as a wake-up call for the shareholders. It's about time! This may not change anything as far as the company goes, but at least someone is stepping up to the plate to try to save the company from "Fast Eddie's" ever certain doom.
I guess this means that the REIT stores may be transferred back to company ownage if the shareholders have their way.
More on this court case can be found here:
consumerist.com/2015/06/01/sears-shareholders-sue-claim-c...
Thanks to Albertsons Florida Blog for bringing this to my attention.
The gavel clipart courtesy of:
images.clipartpanda.com/verdict-clipart-20461237-gavel-on...
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