suing long time former chairman, eddie lampert, they claim that he drove it into bankruptcy and thiscent of companies going belly up after hedge funds came to rescue and the media and progressives blaming all of wall street and it's one of the reasons why capitalism being now seen in a negative light. here now to discuss, chief investment strategist rob luna, and hadley heath manning is back with us, rob, let me start with you, they don't pay that much in taxes, they get all kinds of breaks they can lose money forever and they still make $1 billion a year, how come everything they touch seems to go the opposite way of the minus touch? >> well it definitely seems like everything they touch that also touches the mom and pop investor on wall street and their 401 (k) plans is what goes bad. charles i have no problem with hedge funds, you're well aware of the risk, you know what you're getting yourself into and the problem i have is when that infiltrates wall street when it gets into a company like sears and those types of levered high- risk strategies start to effect the average mom and

the lawsuit filed on beha of sears creditors allegesd hat lampert he siphoned billions from the retailerral years before it eventually went bankrupt last october. sears has not turned arot for the past ten years and it closed over 3,000 stores over that time. in january lamperturchased the .2retailers for illion as part of the option and it caused the claims eaming or just flat wrong. >> sen rat majority l mitch mcconnell plans to introduce legislation to raise theinimum age for buying tobacco products to 21 and that includes vapingc de as well and mcconnell said that the bill would be introduced in may and he orityibed it as a top p right now. some tobacco companies have supported that initiativeoalled toba21, but today's news pressured shares of some of the tobacco stks, as you can wsee. as down more than 3% and bti was down 1 >> the governor of wisconsin wants to renegotiate his state's dealith taiwanese electronics manufacturer fox con and tony ers said he's not convinced that fox con will be able to fulfill his promise o creating 13,000 jobs at a planned factory in that state and th

and he allegedly helped lampert siphon $2 billion from the company.he treasury department is not commenting. >> sears has been dying for many years. it's been obviously improperly run and it's a shame. >> the man known as the foreclosure man in america. it feels like modern capitalism where men like him thrive despite being accused of helping to bring down an iconic american retailer that once gave some of the poorest americans a chance at something more. audible members know listening has the power to change us make us better parents, better leaders, better people. and there's no better place to listen than audible. with audible you get a credit good for any audiobook and exclusive fitness and wellness programs. and now, you'll also get two audible originals: titles exclusively produced for audible. automatically roll your credits over to the next month if you don't use them, and if you don't like a book just swap it for free. enjoy 100% ad free listening in the car, on your phone or any connected device. and when you switch a device pick up right wh

and he allegedly helped lampert siphon $2 billion from the company. is not commenting. >> sears has been dying for many years. it's been obviously improperly run and it's a shame. >> the man known as the foreclosure man in america. it feels like modern capitalism where men like him thrive despite being accused of helping to bring down an iconic american retailer that once gave some of the poorest americans a chance at something more. ore. who are ? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪ (kickstart my heart by motley crue)) (truck honks) (wheels screeching) (clapping) (sound of can hitting bag and bowl) (clapping) always there in crunch time. it's easy to move forward when you're ready for what comes next. at fidelity, we make sure you have a clear p

the retailers is accusing them the disproportionately benefiting while lampert was ceo.kruptcy this was, obviously, a long-standing krit sim of lampert's reign at series as so many transaction spin-offs, lending money to seriars from hs own fund and in the end owning more than half the shares that went to zero it's not as if he had no skin in the game but i'm not sure where this will go not unusual to see litigation out of a bankruptcy process either. >> doesn't reflect brill anticipate thely on for secretary mnuchin either on the board. >> and old friend of lampert and on the board, exactly. >>> still ahead here on the "closing bell," red hot stocks going higher, scoring a major billion dollar deal. all of the details next. internet that puts you in charge. alright boys, time to eat. that handles anything. [ crowd cheering ] that protects what's important. and reaches everywhere. this is beyond wifi. this is xfi. >>> welcome back to "closing bell." shares of canopy growth higher today. to acreage holdings >> this is a very unique deal and the first of its kind deal and

the lawsuit filed by the restructuring team blames lampert and past board members for transferring more than $2 billion in assets to himself and others sears shareholders. as you look at this, that is not a typo on the screen. sears is just a penny stock, 73 cents. and a move of less than a penny brings it down 3.33%. >>> nintendo heading to china after a 15-year ban on gaming consoles was reversed. that was in 2015. china has given the green light to ten cent holdings to distribute the nintendo switch console and the new super mario brothers deluxe game. nintendo stock jumping 13% while no official release date has been given, that stock is really moving higher and we should also look at ten cent. this one's a big one, ten cent is up 28% year to date so today, a nice gain of a quarter of a percent only adds on to a very good 2019. market research firm nico partners estimates the number of gamers in china could hit more than 760 million by 2022. the number of parents totally annoyed by that could hit a billion. >>> the spin game in full effect less than five hours after the public relea

former sears ceo is under fire, eddie lampert is being sued by what's left of sears holdings alleging he stripped assets away from the company during the bankruptcy. the lawsuit, including treasury secretary steven mnuchin as a defendant, who was a part of the sears board prior to becoming treasury secretary. nationational enquirer going for $100 million. the tabloid being sold to james cowen. cowen and nationale national ind business dealings over the years. there will be six new sound stages in brooklyn by the year 2024. new york of course still trying to recover its business-friendly image after amazon pulled out back in february. cheryl: we've got a lot more coming up. as the u.s. and china are on the brink of a possible trade deal, is another one, folks, falling apart? the debate over so-called nafta 2.0. alexa, sing to me, lauren. lauren: i wish i could. cheryl: how amazon is trying to -- alexa a is going to sing for us. that's coming up on "fbn: a.m." ♪ you can hear me on the radio. ♪ you want to turn me on. ♪ turn on your stereo. ♪ you can sing along. ♪ while they're playing m