Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

you say:

Eddie stepping down was the only legal way for him to make that purchase. If he remained chair, it would have been considered insider trading.
_________________________________________________________________
your use of the term "insider trading" is said in a pejorative way. insider trading can be perfectly legitimate since the term insider can be applied to officers and directors of a company as well as any non-officer/director who owns 10% of a company's voting stock. that is why, despite stepping down, eddie was still considered an insider because of the percentage of shldq stock he owned and he's still an insider.

if you go so far as to research the proposal soliciting bids from interested parties, you will see that not only was it anticipated but disclosed that insiders might bid on assets of sears holdings.

the link below shows that eddie's resignation came weeks after his hedge fund had made multiple purchase offers the last of which was both approved by sears as a qualified bid permitting him to participate in the auction and by judge drain in his order aka docket 2507 which i see was referenced to you in a previous post.

https://www.sec.gov/Archives/edgar/data/1310067/000119312519041193/d704657dex992.htm