Republican presidential candidate Mitt Romney
not only thought Bain Capital-backed Staples stock was a risky
investment, he never exercised all of his options to buy it, according
to new testimony that is devastating to Obama backer and celebrity
attorney Gloria Allred's bid to use a 1987 divorce and subsequent
appeals to torpedo Romney's campaign.
A source familiar with the case provided Secrets with testimony from the appeals case in which Romney revealed that he didn't buy all the Staples stock he could because he didn't see it as a sure thing.
At issue is the 1987-1988 divorce of Staples founder Tom Stemberg and Maureen Sullivan Stemberg. The ex-wife believes that during the initial divorce settlement, the value of Stemberg's Staples stock was undervalued and her take was cut as a result. Sources said that the former Mrs. Stemberg believes that Romney schemed to devalue the price of Staples stock to help her husband.
Despite earlier reports, Romney, then a leader at Bain, a major Staples investor, did not testify in the first divorce case - as there was no actual divorce trial. He did testify during one of Stemberg's efforts to re-litigate the divorce settlement in later years.
In October 1991, Romney was called to testify about the valuation placed on Staples in 1987 during the original divorce settlement. At the end of three days of testimony Romney was asked about his own opportunity to buy up Staples stock before the IPO. He was asked if he had purchased the full amount he was allowed to buy - essentially "maxing out" on buying up Staples stock pre-IPO.
Read more: http://washingtonexaminer.com/romney-didnt-load-up-on-staples-stock-devastating-allreds-case/article/2511728#.UInCM4U-Ifp
A source familiar with the case provided Secrets with testimony from the appeals case in which Romney revealed that he didn't buy all the Staples stock he could because he didn't see it as a sure thing.
At issue is the 1987-1988 divorce of Staples founder Tom Stemberg and Maureen Sullivan Stemberg. The ex-wife believes that during the initial divorce settlement, the value of Stemberg's Staples stock was undervalued and her take was cut as a result. Sources said that the former Mrs. Stemberg believes that Romney schemed to devalue the price of Staples stock to help her husband.
Despite earlier reports, Romney, then a leader at Bain, a major Staples investor, did not testify in the first divorce case - as there was no actual divorce trial. He did testify during one of Stemberg's efforts to re-litigate the divorce settlement in later years.
In October 1991, Romney was called to testify about the valuation placed on Staples in 1987 during the original divorce settlement. At the end of three days of testimony Romney was asked about his own opportunity to buy up Staples stock before the IPO. He was asked if he had purchased the full amount he was allowed to buy - essentially "maxing out" on buying up Staples stock pre-IPO.
Read more: http://washingtonexaminer.com/romney-didnt-load-up-on-staples-stock-devastating-allreds-case/article/2511728#.UInCM4U-Ifp
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