Harwood Feffer LLP Announces Investigation of Barnes & Noble, Inc.
NEW YORK, Dec. 10, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Barnes & Noble, Inc. ("Barnes & Noble" or the "Company") (NYSE: BKS), concerning whether the board has breached its fiduciary duties to shareholders.
On July 29, 2013, Barnes & Noble restated its financial results for fiscal years 2011 and 2012. Then, on December 5, 2013, Barnes & Noble disclosed that it is being investigated by the Securities and Exchange Commission ("SEC") in connection with its restatement of earnings. Barnes & Noble further revealed that the SEC is also investigating a separate matter related to a former employee's allegation that the Company improperly allocated certain Information Technology expenses between its NOOK and retail segments for purposes of segment reporting. The price of Barnes & Noble's stock fell significantly following this news.
Our investigation concerns whether the Barnes & Noble board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Barnes & Noble shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Tanya Korkhov, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP