Did Mitt Lie About the Value of Staples in Stemberg Divorce?

I found a story at a site called Tant Mieux from 2/5/08.  It says that when Mitt testified in the divorce of Tom Stemberg, the co-founder of Staples, in 1988 he said the company was “over-valued,” apparently in an effort to help his friend Tom and keep Maureen Stemberg from getting a fair settlement.

Early the next year, Staples went public, and Mitt and Tom Stemberg made a ton of money.

So there may be an issue of perjury in his testimony about the true value of Staples at the time.

Stemberg sounds like a piece of work.  He wrote a letter to his 12-year-old son with Maureen telling him he could no longer be part of his family because of the trouble he had caused during the divorce.

Also, Maureen suffered from lupus and other illnesses and was unable to work.  In 2006, she tried to get more money from Stemberg, who at that point was worth about $150 million.  She told a Boston paper that her financial situation was so bad that she couldn’t afford her medications and had had to give the family spaniel away.

Another sad dog story involving Mitt!

UPDATE — There’s a story about one of Maureen’s lawyers called “Ladies Man,” by Gretchen Voss at Boston.com from 11/13/05.  It says that Maureen got about 500,000 shares of Staples and that they were valued at $2.25.  She sold almost half of them soon after.  When Staples went public, the shares were valued at $19 each.  She then spent a decade in court trying to get the difference.

6 comments on “Did Mitt Lie About the Value of Staples in Stemberg Divorce?

  1. Wow. Thanks for doing so much research. It’s why this site rocks.

  2. Roni Jordan says:

    This has potential.

  3. Drndark says:

    Reblogged this on Drndark.

  4. Harris Jordan says:

    Not as sexy as if Ronney had an affair with an ex maid, but worthy of that continuing effort to have Romney’s photo in the Merriam Webster’s Collegiate Dictioary next to their definition of the word: PERJURER.

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