Morgan & Morgan Announces Investigation of Barnes & Noble, Inc. BKS
NEW YORK, Dec. 9, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating whether certain officers and directors of Barnes & Noble, Inc. ("Barnes & Noble") (BKS) violated state or federal laws.
On December 5, 2013, Barnes & Noble revealed in its 10Q filing that the Securities and Exchange Commission (SEC) had commenced an investigation into the Company's restatement of earnings announced in July 2013 for the years ending April 28, 2012 and April 30, 2011. Barnes & Noble was informed of this inquiry on October 16, 2013. The restatement was issued "in order to correct previously reported amounts." In addition, Barnes & Noble revealed that the SEC was investigating it after receiving a whistleblower tip alleging improper accounting practices.
Following this news Barnes & Noble's stock price closed at $14.43 on December 6, 2013, down almost 12%.
If you own shares of Barnes & Noble and want more information about the Barnes & Noble investigation please contact George Pressly, Esq. at 1(800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
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SOURCE Morgan & Morgan