Romney Said Share Class Was Favor to Staples Founder

Republican presidential candidate Mitt Romney, as a board member of Staples Inc., voted to set a low price on the stock and create a new class of shares as a “favor” to its co-founder who was involved in a divorce.

Romney, in testimony in 1991 in the divorce case of Staples co-founder Tom Stemberg, said the special class of shares in the office-supply retailer was created because Stemberg “needed a settlement with his wife.”