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Big Lots Paying Millions To Settle Insider Trading Claims

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Court documents obtained by WCBE show Columbus-based retailer Big Lots has agreed to pay 38 million dollars to settle insider-trading claims from 2012. 

The documents show investors had alleged current and former executives misled shareholders about the retailer's performance, and 16 executives and board members sold company stock at a profit while knowing about the company's poor peformance. The documents show the company that year announced record performance, then announced adjusted figures after the stock sales.

Jim has been with WCBE since 1996. Before that he worked as a reporter at another Columbus radio station, and for three newspapers in Southwest Florida.
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