Request Legal Help Now - Free

Advertisement
LAWSUITS NEWS & LEGAL INFORMATION

Just For Feet Inc.

Birmingham, AL: (Apr-24-07) A shareholder lawsuit filed against former executives and directors of Just For Feet Inc. accused the company's former auditor and the estate of company founder, Harold Ruttenberg, of failing to file for bankruptcy in a timely manner, deciding instead to refinance debt. The shareholders alleged that the decision was influenced by personal agendas and conflicts of interest and led to the fire-sale liquidation of the company's assets that generated significantly less money to repay creditors. Ruttenberg has agreed to pay settlements topping $80 million to end a lawsuit stemming from the collapse of the Birmingham retailer. The settlement is believed to be among the largest out-of-pocket payments by outside directors and executives following corporate fraud allegations. [BIRMINGHAM NEWS: COMPANY BANKRUPTCY]


Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.
Published on Apr-27-07


ADD YOUR COMMENT ON THIS ISSUE

Please read our comment guidelines before posting.


Note: Your name will be published with your comment.


Your email will only be used if a response is needed.

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free