Eddie Lampert Settles Challenge to Sears Hometown Restructuring

Billionaire Eddie Lampert and his affiliates have agreed to pay $9.37 million to resolve a long-running investor challenge to the take-private restructuring of Sears Hometown and Outlet Stores Inc. in 2019.

The deal approved Monday by the Delaware Chancery Court follows a trial in 2023, a separate $3.1 million partial settlement with three former Sears Hometown directors, and a post-trial damages award that initially totaled $18.3 million and was later reduced by about $10 million.

“Six years is a lot of litigation,” Vice Chancellor J. Travis Laster said in a bench ruling in Wilmington, Del.

It’s a “relatively easy settlement ...