SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of Barnes & Noble, Inc. (NYSE: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. The Company was informed of this inquiry on October 16, 2013. Per Barnes & Noble, the restatement was issued “in order to correct previously reported amounts.” In addition, the SEC is examining a former employee’s allegation of accounting fraud by Barnes &Noble.
On this news Barnes & Noble’s stock price closed down 12% on Friday, December 6, 2013 at $14.43. This investigation will determine whether shareholders were harmed by inaccurate financial reporting and misrepresentations.
If you have information that could assist in this investigation, or if you are a Barnes & Noble shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-230-0063, Ext.118.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.