Sharper Image CEO To Settle Avoidance Suit For $3M

Law360, New York (August 5, 2010, 4:07 PM EDT) -- Sharper Image Corp. has won court approval for a settlement with its CEO, Richard Thalheimer, who has agreed to pay the bankrupt electronics retailer's estate $3.3 million to settle a $6 million avoidance suit.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware approved the settlement Monday. Thalheimer did not admit to any wrongdoing as part of the settlement.

Sharper Image, now known as TSIC Inc., sued Thalheimer in December 2008 to recover a $6 million payment the company made to him...
To view the full article, register now.