Lampert Loses $467 Million After Sears Stock Plunges
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Edward Lampert, the hedge-fund manager who took over as chief executive officer of Sears Holdings Corp. this year, saw the value of his controlling stake fall $467 million today after a first-quarter loss at the retailer prompted the biggest stock decline in six months.
Sears tumbled 14 percent to close at $50.25 in New York trading, its biggest drop since Nov. 16. The shares had risen