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Mitt Romney’s sworn testimony in a post-divorce lawsuit against Staples founder Tom Stemberg was unsealed on Thursday at Norfolk Probate and Family Court.
The suit was filed in 1990 by Stemberg’s ex-wife, Maureen Sullivan Stemberg, who sought to amend the couple’s financial agreement after Staples went public in 1989 and began trading at 10 times the stock value she had received in the divorce a year earlier. Romney, now the Republican nominee for president, testified during the lawsuit in June 1991; the nature of his testimony was not immediately clear on Thursday.
The Globe filed a motion on Oct. 15 to unseal Romney’s testimony, which was impounded along with all other case files from the Stembergs’ 10-year legal battle.
At the time of his testimony, Romney was the owner and chief executive of Bain Capital, a private equity firm that invested $650,000 in Staples to help the office supply company open its first store in Brighton in 1986. In total, Bain Capital invested about $2.5 million in Staples and reaped a $13 million profit when the company went public in 1989. Romney also sat on the Staples board of directors, where he was “probably the most valuable member,” Stemberg told the Globe in a 1994 interview.
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