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IN RE SEARS HOMETOWN & OUTLET STORES, INC.

CONSOLIDATED C.A. No. 2019-0798-JTL.

309 A.3d 474 (2024)

IN RE SEARS HOMETOWN AND OUTLET STORES, INC. STOCKHOLDER LITIGATION.

Court of Chancery of Delaware.

Date Decided: January 24, 2024.

Attorney(s) appearing for the Case

Ned Weinberger , Mark Richardson , Michael C. Wagner , Jiahui (Rose) Wang , LABATON KELLER SUCHAROW LLP, Wilmington, Delaware; Peter B. Andrews , Craig J. Springer , David M. Sborz , Christopher P. Quinn , ANDREWS & SPRINGER LLC, Wilmington, Delaware; Samuel L. Closic , Seth T. Ford , Robert B. Lackey , PRICKETT, JONES & ELLIOTT, P.A., Wilmington, Delaware; David Schwartz , John Vielandi , LABATON KELLER SUCHAROW LLP, New York, New York; Carl L. Stine , Adam J. Blander , WOLF POPPER LLP, New York, New York; Counsel for Co-Lead Plaintiffs; Donald J. Enright , Elizabeth K. Tripodi , LEVI & KORSINSKY, LLP, Washington, District of Columbia; Executive Committee for Co-Lead Plaintiffs.

Michael A. Pittenger , Matthew E. Fischer , Jacqueline A. Rogers , Lucille E. Wiesner , Nicholas D. Mozal , Charles P. Wood , Abraham C. Schneider , POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Counsel for Defendants Edward S. Lampert, ESL Investments, Inc., ESL Partners, LP, RBS Partners, LP, Transform Holdco LLC, and Hometown Midco LLC.

POST-TRIAL OPINION

"[T]he most interesting conflicts in corporation law are engendered not by `bad guys' seeking with guile to protect or advance private interests. The difficult and interesting questions arise from differing, but plausible, conceptions of what constitutes right action in the circumstances."

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