Big Lots Paying Millions To Settle Insider Trading Claims

May 23, 2018

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.