Most of the coverage of this story has described it as about Mitt’s testimony in the divorce proceedings between Staples co-founder Tom Stemberg and his first wife Maureen.
Actually, Mitt testified in post-divorce proceedings, when Maureen tried to get her financial settlement amended. The couple divorced in 1988, and Staples went public in 1989, at which time it was trading at ten times what she got in the divorce.
Gloria Allred, who now represents Maureen, produced three volumes of testimony involving Mitt, testimony that can now be made public. She intends to pursue the denial of the motion to lift the gag order that prohibits Maureen from talking about the case. Tick tock, people, it won’t matter if the order is lifted on November 7.
Mitt’s Bain Capital invested $2.5 million in Staples and got a $13 million profit when the company went public.