News: Johnson Fistel Investigates Proposed Sale of Nordstrom: Is $24.25 a Fair Price?
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Nordstrom, Inc. (NYSE: JWN) breached their fiduciary duties in connection with the proposed sale of the Company to Erik, Pete, Jamie Nordstrom and other members of the Nordstrom family (collectively, the “Nordstrom Family”) and El Puerto de Liverpool, S.A.B. de C.V.
Under the terms of the proposed acquisition agreement, Nordstrom shareholders are set to receive a cash payment of $24.25 per share. Johnson Fistel is currently investigating the adequacy of this compensation as well as the procedures that culminated in the agreement, seeking to determine if these might significantly undervalue the company. Central to the investigation is whether the Nordstrom Board of Directors fulfilled their fiduciary obligations to the shareholders. Key issues include the Board’s efforts in exploring viable alternatives to the acquisition, and whether the agreed upon sale price truly reflects the optimal value of Nordstrom shares. This inquiry aims to ensure that the interests of the shareholders are thoroughly protected in the transaction.
If you are interested in joining our investigation or would like more information, please review the information below:
If you are a shareholder of Nordstrom and believe the proposed buyout price is too low or you’re interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.