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Investigation for Long-Term Investors in NYSE: JWN shares over potential Wrongdoing at Nordstrom, Inc.

09-11-2019 06:46 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Nordstrom, Inc. (NYSE: JWN) shares over potential wrongdoing at Nordstrom, Inc.

An investigation on behalf of investors in Nordstrom, Inc. (NYSE: JWN) shares over potential wrongdoing at Nordstrom, Inc.

Certain directors of Nordstrom are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of Nordstrom, Inc. (NYSE: JWN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Nordstrom directors breached their fiduciary duties and caused damage to the company and its shareholders.

Seattle, WA based Nordstrom, Inc. reported that its Total Revenue rose from over $15.47 billion for the 12 months period that ended on February 3, 2018 to $15.86 billion for the 12 months period that ended on February 2, 2019 and that its Net Income rose over those respective time periods from $437 million to $564 million.

On November 15, 2018, Nordstrom, Inc disclosed its Q3 2018 financial results. Nordstrom, Inc stated that its earnings before interest and taxes (“EBIT”) “was impacted by a non-recurring estimated credit-related charge of $72 million. This estimated charge resulted from some delinquent Nordstrom credit card accounts being charged higher interest in error. The Company has taken action, including the appropriate steps to address this issue and estimates that less than 4 percent of Nordstrom cardholders will receive a cash refund or credit to outstanding balances, with most receiving less than $100.”

Shares of Nordstrom, Inc. (NYSE: JWN) declined from $67.70 per share in October 2018 to as low as $25.58 per share on August 14, 2019.

Those who purchased shares of Nordstrom, Inc. (NYSE: JWN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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