Sears Wins Round in Court: A federal...
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Sears Wins Round in Court: A federal judge in Philadelphia denied a petition by two Sears, Roebuck & Co. shareholders to postpone today’s meeting until the company provided more information about a decision to restructure the company, including an overhaul of the retail division. The two shareholders, S. N. Isquith and C. Oliver Burt Jr., who together hold 500 shares of Sears stock, filed suit in Philadelphia on Monday. The delay was sought on grounds that Sears had failed to disclose in material made public for the meeting the existence of a 1988 shareholder suit against the company.
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