Berman Tabacco, a national law firm representing investors, is investigating potential violations of Washington law by directors of Nordstrom, Inc. (“Nordstrom” or the “Company”) (NYSE: JWN).
About the Investigation
On April 18, 2024, Nordstrom announced that Erik and Pete Nordstrom, the Company’s CEO and President, respectively, and the great-grandsons of its founder, had notified Nordstrom’s Board of their interest in pursuing a potential transaction pursuant to which Nordstrom would become a private company. In response, Nordstrom formed a special committee to evaluate any future proposals. On September 4, 2024, the special committee confirmed receipt of a proposal from Erik and Pete Nordstrom, other members of the Nordstrom family, and El Puerto de Liverpool, S.A.B. de C.V. (“Liverpool”) (collectively, the “Bid Group”) to acquire all outstanding shares not currently owned by the Bid Group, for $23.00 per share in cash.
The Bid Group has reported that they currently own an aggregate of approximately 43% of Nordstrom’s common stock. According to the proposal, the merger consideration “would be financed through a combination of rollover equity and cash commitments by members of the Nordstrom family and Liverpool and $250 million in new bank financing, with the existing indebtedness of the Company to remain outstanding.”
Our investigation focuses on whether Nordstrom shareholders are receiving adequate consideration for their shares and whether the members of Nordstrom’s Board are carrying out their fiduciary duties properly and conducting a fair process to determine whether to accept the offer and price.
Contact
If you have information concerning this investigation or any questions, please fill out the form on this page.
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Berman Tabacco
Berman Tabacco is a highly ranked class action law firm dedicated to protecting the rights of investors and consumers. Since 1982, our firm has prosecuted hundreds of securities, antitrust, and complex consumer cases, recouping billions of dollars for our clients and the investors and others they represent.
From unfair corporate transactions to one-sided public securities offerings to violations of the federal securities laws, our corporate governance and securities attorneys are here to protect the rights of investors harmed by companies that commit fraud, fail to disclose important information, engage in corporate or board misconduct, or breach their fiduciary duties to their shareholders.
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Shareholder Rights and Corporate Governance Investigations.
Berman Tabacco is investigating potential violations of state law by corporations and corporate officers and directors. Berman Tabacco works with investors impacted by mergers, acquisitions, and other transactions to understand their rights, obtain more information about the merger or acquisition, and take legal action when appropriate.
State corporate laws provide robust protection against corporate officers and directors breaching their fiduciary duties to the corporation and its stockholders. Stockholders have an important role to play in accountability. Berman Tabacco is investigating whether certain mergers or acquisitions took place without treating investors fairly.
Berman Tabacco is investigating potential breaches of fiduciary duty and failures to disclose critical merger information in connection with several pending corporate transactions and mergers. Berman Tabacco attorneys work with shareholders impacted by pending mergers to investigate the circumstances surrounding the transactions and determine how the transactions may impact their rights.
If you invested in a company that merger or was acquired, we can help you determine if the board disclosed all of the information you needed to make a fully informed investment decision. If you are interested in helping to hold these directors accountable, please contact us by providing your information below.
Typically, Berman Tabacco represents individuals and entities in shareholder lawsuits on a contingency fee basis, meaning we advance all attorneys’ fees and expenses in the litigation. If the case is successful, the firm will ask the court to award the firm attorneys’ fees and the reimbursement of expenses from any settlement fund. The court will approve the attorneys’ fee award only if it finds that the award is reasonable. If we are not successful, you will not be responsible for the reimbursement of attorneys’ fees or expenses.
About Berman Tabacco
Since 1982, our firm has prosecuted hundreds of securities and antitrust complex cases. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Chambers USA, Benchmark Litigation, which has ranked the firm as Highly Recommended and a Top Ten Plaintiffs, The Legal 500, U.S. News & World Report-Best Lawyers, The Daily Journal, Lawdragon, Who’s Who Legal, and Super Lawyers.
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Berman Tabacco
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(800) 516-9926
Email: law@bermantabacco.com