Whistleblower Representation Practice Chair Jordan Thomas was quoted in a news article discussing a lawsuit filed by Sears against its former Chairman, Eddie Lampert, and other former board members including U.S. Treasury Secretary Steven Mnuchin for allegedly stripping the retailer of billions of dollars as it collapsed into bankruptcy. "For all of the directors, there will be an assessment of independence and whether they exercised appropriate fiduciary duty in making their decisions," said Thomas. "As a member of that board, Mnuchin - just like everybody else on that board - is in the hot seat."
In 2017, Labaton Sucharow's Corporate Governance and Shareholder Rights Litigation Practice won a $40 million settlement in a lawsuit alleging that Lampert "had tried to sell off the company's best real estate to Seritage," according to the article. Seritage Growth Properties is a real estate investment trust also owned by Lampert.
Click here to read the full article in the Dallas Morning News.