Tweeter committee granted approval to launch legal actions against some employees

By Caroline Salls

Pittsburgh, Nov. 14 - Tweeter Home Entertainment Group, Inc.'s official committee of unsecured creditors obtained court approval to start causes of action against some employees on behalf of the company's estate, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, the committee had identified several causes of action against employees of Tweeter Newco LLC, a privately held portfolio company of Schultze Asset Management LLC.

In July, assets of Tweeter Home were sold to Schultz for $38 million.

Tweeter, a Canton, Mass., consumer electronics retailer, filed for bankruptcy on June 11. Its Chapter 11 case number is 07-10787.

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