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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Wells Fargo and Company | NYSE:WFC | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.30 | 0.50% | 59.82 | 60.15 | 59.32 | 60.12 | 15,354,024 | 01:00:00 |
From May 2019 to May 2024
RadioShack's junior creditors are suing hedge fund Standard General LP, the company's largest prebankruptcy shareholder and current owner, in a last-ditch effort to get repaid.
The lawsuit, filed Monday in U.S. District Court in Fort Worth, Texas, by the committee representing RadioShack's unsecured creditors, also names Wells Fargo & Co. and former Chief Executive Officer Joseph Magnacca, alleging they helped Standard General take over the company at creditors' expense.
The suit comes as the electronics retailer moves forward with a number of settlements aimed at speeding its exit from chapter 11 protection. The bankruptcy sale of RadioShack's assets earlier this year raised only enough to cover the company's top-ranking loans, leaving litigation against RadioShack's owner and lender as the unsecured creditors' best hope of seeing a recovery.
Standard General and Wells Fargo couldn't immediately be reached for comment.
Write to Matt Wirz at matthieu.wirz@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 31, 2015 16:25 ET (20:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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