OTHER NEWS - Nov. 5, 1991
From Times Staff and Wire Reports
Nordstrom Settles Suit: U.S. District Judge John Coughenour has approved a $7.5-million out-of-court settlement in a lawsuit brought by Nordstrom shareholders against the clothing store chain. Of the amount, $4.7 million will be distributed among the shareholders and $2.8 million will go for lawyers and expenses. The settlement was reached in May. It affects shareholders who bought and sold Seattle-based Nordstrom’s stock between Feb. 1, 1988, and March 8, 1990. The shareholders argued that Nordstrom failed to disclose that it might have to pay employees back wages because of potentially illegal employment practices.
