NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP is investigating Sears Holdings Corporation (“Sears” or the “Company”) (Nasdaq:SHLD) in connection with possible breaches of fiduciary duties by the board of directors of the Company.
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On September 15, 2014, Sears revealed that the Company had entered into a $400 million short-term loan with affiliates of Sears CEO Edward Lampert and his hedge fund, ESL Investments. Lampert is the sole stockholder of ESL Investments, which controls more than 23% of Sears’ common stock, while Lampert himself controls an additional 23.7% of Sears’ common stock. The loan is secured by 25 undisclosed Sears properties as collateral, and gives Lampert the option to swap out less valuable stores.
If you own common stock in Sears and wish to obtain additional information, please contact Eduard Korsinsky, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/sears-holdings-shld.
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