Lampert Wins $10 Million Damage Reduction in Sears Hometown Case

Billionaire Eddie Lampert only owes former Sears Hometown and Outlet Stores Inc. shareholders $8.7 million, a Delaware judge said Tuesday in an order cutting the amount of damages he had awarded in a first-of-its-kind decision earlier this year.

The Delaware Chancery Court in January ordered Lampert to pay $18.3 million to ex-shareholders of the bankrupt onetime affiliate of the iconic department store chain that Lampert took private in 2019. Vice Chancellor J. Travis Laster corrected the amount to $8.7 million, before interest, in response to Lampert’s request for an adjustment.

Sears Hometown spun off from Sears Holding Corp.—Sears, Roebuck ...