CANTON, Massachusetts (Reuters) - Republican presidential challenger Mitt Romney's testimony from a 1991 court hearing related to the founder of Staples Inc appeared to contain little likely to damage the candidate's chances in the November 6 general election.The 192-page filing, released with a Massachusetts court's approval on Thursday, shows that the retailer, prior to its initial public offering, issued a new class of shares to help fund Staples founder Thomas Stemberg's divorce from Maureen Sullivan Stemberg.The Norfolk Probate & Family Court in Canton, Massachusetts, south of Boston, on Thursday approved the release of hundreds of pages of testimony Romney delivered at a hearing on Thomas Stemberg's divorce from Sullivan Stemberg, at the Boston Globe newspaper's request.The office-supplies retailer - in which Bain Capital, a private equity fund that Romney worked for before entering politics, was an early investor - had privately sold a new class of shares to facilitate the divorce, former Massachusetts Gov. Romney said, according to the transcripts."It was something which was done in my opinion, it was initiated as a favor. Tom needed to have a settlement with his wife so that was the genesis of it," Romney said, according to the transcripts.The "D" class of shares at issue could be converted to common stock, unlike earlier shares sold in three prior rounds of fundraising, which held greater voting rights, Romney said, according to the transcript.Thomas Steinberg spoke on Romney's behalf at the Republican National Convention in August.Sullivan Stemberg's attorney, Gloria Allred, had sought both to have the transcripts released and to free her client from a gag order that prevents both Sullivan Stemberg and her former husband from discussing terms of their divorce.Norfolk Probate & Family Court Assistant Judicial Case Manager Jennifer Ulwick agreed to the release of the documents but declined to lift the gag order.Allred warned that without Sullivan Stemberg's comments the testimony may mean little to the general public."Out of context, it is essentially meaningless to the public, and she can put it in context," Allred said, referring to her client.Romney provided testimony in 1991 on behalf of Stemberg, who was battling a post-divorce lawsuit.Sullivan Stemberg has disputed Romney's description of the value of the company, according to a filmmaker who interviewed her.A spokesman for Thomas Stemberg said he was pleased that the judge had upheld the order preventing him or his ex-wife from discussing the case."We are delighted that the court has upheld the confidentiality order in this case, which has nothing to do with Governor Romney," said George Regan, a spokesman for Stemberg. "It is and always has been a private family matter that should not be subject to public speculation."ROMNEY LAWYER DOES NOT OBJECTRomney attorney Robert Jones said the candidate had no objection to the testimony being made public."These tabloid charges being shopped by Gloria Allred, one of President Obama's most prominent supporters, are absolutely false," said Jones, of the Boston law firm Ropes & Gray. "There is no new information here."Allred, who has donated to Obama's re-election campaign, denied the moves were politically motivated.Staples also raised no objections to the release.At issue is how Romney described the value of Staples. An independent filmmaker who interviewed Sullivan Stemberg for an uncompleted movie project told Reuters on Wednesday that she felt he inaccurately described the value of the company.Staples, which went public in 1989, was worth $264.4 million on June 26, 1991, the first day of Romney's testimony.Three months later, the stock price had climbed 26 percent to push its market value to $334.28 million on September 26, 1991. A year after Romney's testimony, Staples was worth $507.1 million.Romney in testimony described Thomas Steinberg as a typical entrepreneur, placing high odds on the success of his business, according to the testimony."He spoke about the future as if it were here today and minimized the, you know, in raising money from board members individually minimized the, in his own mind, the risks and maximized the probability of a high degree of success," Romney said, according to the transcript.(Additional reporting by Mark Hosenball in Washington; Editing by Mary Milliken and Eric Walsh) ||||| By Jen Heger – Radar Assistant Managing Editor 
 
 11:15 a.m. EST- UPDATE: The hearing has been delayed by one day. It’s now scheduled for Thursday at 9 a.m. EST. 
 
 10 a.m. ET- UPDATE: The Associated Press reports Gloria Allred arrived at court with the former wife of Staples founder Tom Stemberg to tell a judge that she does not object to unsealing testimony given by presidential candidate Mitt Romney in her divorce case. 
 
 
 
 Gloria Allred‘s October surprise for Governor Mitt Romney involves allegations about a child custody matter that the Republican presidential hopeful testified about involving his very good friend, the former CEO of Staples Tom Stemberg, and his divorce form one of his two ex-wives, RadarOnline.com is reporting. 
 
 The founder of Staples, who spoke on behalf of Governor Mitt Romney at the Republican National Convention in Tampa Bay, Florida last summer, has four sons from two different ex-wives, Maureen Sullivan Stemberg and Dola Hamilton Stemburg. Mitt Romney’s hedge fund, Bain Capital, was an early investor of Staples. Tom Stemberg’s sons are in their mid-teens and early twenties. 
 
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 “Governor Mitt Romney gave sworn testimony about his observations of Tom’s role as a father to his four sons,” a source close to the situation told RadarOnline.com. Our source wouldn’t provide any additional information because of Governor Romney’s sworn declaration and gag order. 
 
 Stemberg’s first wife, Maureen, had a documentary, The Maureen Sullivan Stemberg Story: A Portrait in Courage, which aired on Lifetime. According to a 2008 press release, “Maureen Sullivan Stemberg will provide an in-depth account in this first-time tell all tale of the interweaving relationships and strange bedfellow that business has made in her life. Such luminaries include former Governor of Massachusetts, Mitt Romney – who was the former Republican nominee in the 2008 Presidential campaign, as well as one of the first major investors for Staples while he was employed by Bain Capital, Boston, MA. This story will include the injustice of the Mass. Probate Justice system. Other heavy hitting names have yet to be released in this as of yet untold story including Dola Davis Hamilton Stemberg.” 
 
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 Tom Stemberg’s divorce attorney, Joel Kozel is expected to be at the family law courthouse in the Boston area on Wednesday morning as the Boston Globe petitions to have the court records unsealed. 
 
 As RadarOnline.com was the first to report exclusively, the Boston Globe will be in court for an emergency hearing “in an attempt to obtain a court order to unseal the sworn testimony given by Mitt Romney in a prior court case and to lift a gag order so that the parties can speak about Romney. Gloria Allred will be in court representing one of the parties in the case,” a source close to the situation previously told us. 
 
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 “Ms. Allred’s client feels that the public needs to know about Governor Mitt Romney’s role in this very important case. Governor Romney is running for President of the United States and this goes to a very important character issues,” the insider revealed. It’s unclear if Governor Romney will have lawyers present at the hearing on Wednesday morning. 
 
 The emergency hearing will take place at the Norfolk Probate & Family Court in Canton, Massachusetts, and Justice Jennifer Ulwick will oversee the proceedings which will begin at 9 a.m. EST. 
 
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 Stemberg founded Staples and was the CEO for 16 years. According to the Huffington Post, “Bain Capital, the private equity firm that Romney helped found, was one of the early investors in Staples, and the former Massachusetts governor remained on the retailer’s board for more than a decade. In claiming he helped create some 100,000 jobs in the private sector over the years, the Romney campaign has leaned heavily on the success of the office supplier, citing roughly 90,000 Staples jobs in their math.” 
 
 Romney’s pal was featured at the RNC last summer and addressed the delegates and said, “He (Mitt Romney) never looked at Staples as merely a financial investment. He saw the engine of prosperity it could become. Today Staples employs nearly 90,000 people. It has over 2,000 stores, over 50 distribution centers, and it is part of a competitive industry that helps entrepreneurs and small businesses get started on their own. You have to ask yourself, why would an administration that can’t create any jobs demonize someone who did?” 
 
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 According to a report from the National Employment Law Project Action Fund, Staples is one of the lowest wage employers in the country. 
 
 During a interview with PBS’ Frontline earlier this year Stemberg said the first time he met Romney, “when you first walked in and saw Mitt, he looked like a guy who ought to be president of the United States. This guy, he looked perfect; he dressed perfect; he spoke perfectly. He asked the most poignant questions in a very, very nice way and didn’t make you feel defensive and really drew the best or worst out of you. He was just really, really good.” 
 
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 Stemberg also said that Mitt Romney was no shrinking violet and wasn’t concerned about his friend entering politics when he decided to run for governor of Massachusetts. “Nobody pushes Mitt Romney around. Having said that, if there’s one person whom he will almost always defer to, it’s Ann Romney,” Stemberg told PBS. 
 
 Most polls indicate that the presidential race between Barack Obama and Mitt Romney is a statistical dead heat. 
 
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 Gloria Allred, Tom Stemberg, and representatives for Governor Mitt Romney didn’t immediately respond to request for comment on this story. 
 
 Stay tuned to RadarOnline.com for developments on this story. 
 
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– A Massachusetts judge rule today that Mitt Romney's sealed testimony from the divorce hearing of Staples founder Tom Stemberg can be released, after putting off the decision yesterday, the AP reports. The Boston Globe had argued that the court should reassess the gag order given that Romney is running for president. Stemberg's ex-wife, Maureen Sullivan Stemberg, believes Romney downplayed Staples' value to stiff her, a source confirms for Reuters. "He was stating for his best friend to save money in a divorce that the stock was worth very little." In the year after Romney's testimony, Staples' value almost doubled. Romney doesn't object to releasing the testimony. "From the governor's perspective, the sooner we get at it, the better," his lawyer told the court yesterday. But Stemberg does, and strongly. "This is not an issue involving Governor Romney," his lawyer said. "This is a private divorce matter." Staples also asked for time to make sure the documents didn't contain confidential information that might harm its business.