Sears Holding Corp’s board of directors and chairman/CEO Eddie Lampert have agreed to a $40 million settlement of a shareholder lawsuit against Lampert himself, Reuters reports. The lawsuit, filed against Lampert, directors and the real estate investment trust (Seritage Growth Properties) that holds much of the struggling retailer’s most valuable real estate, claimed Lampert, whose …
The Los Angeles city attorney’s office said it plans to sue four big retailers for deceptive advertising which allegedly misled shoppers into believing that thousands of products were on sale at a hefty discount. The retailers — JC Penney, Sears, Kohl’s and Macy’s — falsely advertised high “list” or “regular” prices on merchandise that was never actually for sale at that price, according to the …
A federal judge has signed off on a plan to award more than $4.8 million to attorneys who led a decade-long legal action against Sears and Whirlpool over allegedly defective washing machines the retailer sold. On Sept. 13, U.S. Magistrate Judge Mary M. Rowland approved the attorney fees, as the latest step in the execution of a settlement deal intended to end the litigation, launched in 2006 on …
Front-loading washing machines are popular among customers who want to “go green” by using less water than a traditional top-loader. However, in a recent class action lawsuit, some people said their Whirlpool, Maytag, and Kenmore washing machines were a little too “green” — with foul-smelling mold building up after every cycle. Sears customers who purchased the front-loaders first filed the …