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COMPENSATION IN CONTEXT

PERSONAL USE OF AIRCRAFT: LITIGATION DISMISSED

November 16, 2015

Recently, Broc Romanek of Compensationstandards.com blogged about a court case involving Nordstrom. As noted in this Bloomberg article earlier this year, Nordstrom was accused of hiding the costs of flying the family founders planes – the allegations of corporate use of the company’s planes was being mixed with flying the family around. That case has now been dismissed as noted by Paul Hastings’ Mark Poerio on his site:

A Washington district court has dismissed Burbrink v. Campbell, which alleged false and misleading proxy statements had undervalued the Nordstrom family’s use of private aircraft. The company succeeded in establishing that independent directors had overseen the arrangements, and submitted an expert report substantiating its valuations. Executive usage of corporate aircraft remains a sensitive, complex practice.

However, it appears that an appeal was filed a few weeks ago…

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