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Neiman Marcus Unravels Suit Claiming It 'Funneled' $1B

Law360 (March 19, 2019, 10:54 PM EDT) -- A lawsuit alleging that Neiman Marcus orchestrated a plot to loot its own luxury department store and online retailer of more than $1 billion was dismissed Tuesday by a Texas district court judge who determined she lacked authority to hear the dispute.

In a brief order issued Tuesday, Dallas County District Court Judge Tonya Parker dismissed with prejudice the lawsuit filed by Cayman islands limited partnership Marble Ridge Master Fund LP in December. Neiman Marcus Group Inc. had argued that Marble Ridge had no standing to bring the lawsuit because it's not a lender under the retailer's term loan agreement, it is...

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