Nordstrom Lawsuit

Nordstrom Inc (JWN) Private Jet Lawsuit. Concerned about Jet Abuse by Nordstrom Family?

Kyros

Our law firm is investigating whether Nordstrom Inc (JWN) is properly reporting the personal use of the Nordstrom corporate aircraft. It appears that Nordstrom may not be properly disclosing the use of its aircraft for the personal use of the Nordstrom family and company officers.

From SEC filings it appears that Nordstrom between 2007 to 2010 may have underreported personal use of corporate aircraft.  Using the a database of Corporate Jet flights compiled by the Wall Street Journal, Nordstrom’s planes appear to have made many flights to Palm Springs (Bermuda Dunes Airport) from the company’s headquarters in Seattle, Washington, and dozens of flights from Palm Springs back to Seattle.  The costs of these flights appears to greatly exceed that reported in its SEC filings. Additionally, Erik B. Nordstrom, one of the officers, has a home very close to the Bermuda Dunes Airport raising questions about the business nature of these flights.

Based on our flight cost calculations, these flights back and forth between Palm Springs and Seattle alone would likely have exceeded the costs Nordstrom reported in its filings.  In addition, the Wall Street Journal Database lists flights to many other holiday destinations, such as Miami, Florida; Las Vegas, Nevada; Napa, California; and Sun Valley, Idaho.  These flights appear to be for personal use and may not have been properly reported to shareholders as such.

Thus the amount of expenses claimed for personal use by Nordstrom's Officers and Directors of the Company’s corporate aircraft appear inconsistent with SEC filings.  Over the last several years, it appears that Nordstrom has potentially under-reported Executive perks between 2007 through 2010 for Jet Travel. The Company’s proxy statements also raise other issues, including troubling related party transactions between the Nordstrom family and the Company.  

Do you own shares of JWN? Concerned about CEO Private jet shareholder abuse? call our law firm now. Please call Attorney Bill Kyros at 1-800-934-2921 to discuss your rights. We are looking for Shareholders in Nordstrom who wish to bring legal claims. We are also interested in speaking to shareholders who wish to pursue claims against other companies for similar abuse.

Nordstrom Inc JWN Investor ?
Contact our law firm now to discuss your options, Toll Free at 1-800-934-2921 for a Free Case Evaluation
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