Nordstrom Suit May Clarify Disclosure Rules For Insider Deals

By Jonathan Randles (March 25, 2015, 2:26 PM EDT) -- Nordstrom Inc. is accused in a recent lawsuit of hiding from shareholders the cost of operating private jets to chauffeur members of the Nordstrom family to vacation spots around the country, litigation that could test the lengths to which public companies must go in disclosing costs of so-called related-party transactions, attorneys say.

The retailer was hit with a lawsuit last week in California that alleges the company has concealed the true cost it pays to operate planes for the personal benefit of the Nordstrom family. The lawsuit claims Nordstrom filed false and misleading proxy statements with securities regulators masking the cost...

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