Big Lots Bigwigs Hit With $37M Insider Trading Suit

Law360, New York (May 22, 2012, 6:09 PM EDT) -- A Louisiana pension plan sued Ohio-based discount retailer Big Lots in federal court Tuesday, alleging that the company's directors and officers had earned over $37 million from illegal insider trading.

The suit, filed in the Southern District of Ohio by the Louisiana Municipal Police Employees' Retirement System, contends that the directors and officers — including Chairman, CEO and President Steven Fishman, Vice President and Controller Paul Schroeder, and Executive Vice President Joe Cooper — sold massive amounts of company stock over a 23-day interval in March....
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