Neiman Marcus Group, Inc. v. HSBC Bank Nevada, N.A., Cause No. 08-01688-H, 160th District Court, Dallas County, Texas
Apr 22, 2008OUTCOME: TRO -- Settlement
Susman Godfrey obtained a temporary restraining order for Neiman Marcus and Bergdorf Goodman to stop HSBC from terminating more than 192,000 existing Neiman Marcus private label credit card accounts an ... d from making requirements for obtaining or retaining new accounts more onerous. HSBC claimed to have authority under its contract to implement the changes without our clients' consent. The TRO allows Neiman Marcus and Bergdorf to avoid the loss of approximately $500 million in sales. With the TRO in place, Neiman Marcus and HSBC engaged in negotiations, which resulted in an agreement that resolved the dispute to Neiman Marcus's satisfaction, and the parties returned to business.
