Examples of Seritage in a sentence
The Original Complaints alleged that ESL and members of Sears’s Board of Directors breached fiduciary duties to stockholders in connection with the Seritage Transaction and that certain other Defendants aided and abetted such breaches.
APPLICANT: Seritage SRC Finance, LLC OWNER: Seritage SRC Finance, LLC AGENT: Williams Mullen PROPOSAL: A modification to the Development Criteria for the Greenbrier PUD, Zone A, to allow a satellite wagering facility and certain development standards necessary for the redevelopment of the Sears parcel at Greenbrier Mall.
The Consolidated Complaint asserted derivative claims on behalf of Sears challenging, among other things, the consideration paid to Sears in the Seritage Transaction, the valuation of the stores sold in connection with the Seritage Transaction, and the process relating to the foregoing.
On June 9, 2015, Seritage filed a final prospectus concerning the Seritage Transaction and the Rights Offering.
Sears announced that it was proceeding with the transaction and began publicly filing with the U.S. Securities and Exchange Commission (the “SEC”) the documents necessary to commence and complete a rights offering by Seritage to finance, in part, the transaction (the “Rights Offering”).
Through the Rights Offering, each stockholder of Sears was given the right to purchase an interest in Seritage economically proportionate to the interest the stockholder owned in Sears at the time the Rights Offering commenced.
The first of these was Seritage, owned by Sears, and the second was Darden’s REIT unit (owner of national franchises, such as Olive Garden and other restaurants).
Seritage does not fall under the MTC definition of “captive” since it is a publicly traded company, and there was not enough information available to confirm Darden’s REIT unit status.
The Consolidated Complaint alleged that Mr. Lampert and ESL breached their fiduciary duties as alleged controlling stockholders, that the other Individual Defendants breached their fiduciary duties, and that Seritage and Fairholme aided and abetted these alleged breaches.
Suppurative lymphadenitis (intranodal abscess) was diagnosed based on these MRI findings.