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Former Toys “R” Us Creditors Sue Former Executives and Owners

A trust that represents over a hundred former creditors (mostly suppliers) of Toys “R” Us is suing the toy retailer’s former executives and private equity owners, alleging breach of duty, fraudulent behavior, and negligence.

Bob Bodian of Mintz, who is lead counsel for the defendants named in the lawsuit, called the accusations “baseless.”

In a scathing complaint, attorneys alleged that the toy retailer’s former executives and private equity owners… bilked Toys R Us of cash ahead of its disastrous bankruptcy and then pursued an expensive plan to revamp the retailer in Chapter 11. 

Read the full story at Retail Dive.