Law Offices of Howard G. Smith Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit against Barnes & Noble, Inc.
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors that all purchasers of the securities of Barnes & Noble, Inc. (“Barnes & Noble” or the “Company”) (NYSE:BKS) between June 27, 2012 and December 5, 2013, inclusive (the “Class Period”), have until March 10, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit. The Complaint filed in the United States District Court for the Southern District of New York alleges that the defendants issued materially false and misleading statements concerning the Company’s operations and financial performance.
On December 5, 2013, Barnes & Noble revealed that the Securities and Exchange Commission had notified the Company on October 16, 2013, that the SEC had commenced an investigation into Barnes & Noble’s past accounting, including its decision announced July 29, 2013, to restate its fiscal 2011 and 2012 earnings. The Company further disclosed that the SEC was reviewing a former employee’s allegations that Barnes & Noble had improperly allocated “certain information technology expenses” between its Nook and consumer bookstore group in its financial reporting, and that after a review of Barnes & Noble’s deferred tax assets and liabilities, it had “concluded” that a deferred tax liability should be reversed.
If you purchased Barnes & Noble securities during the Class Period, you may move the Court no later than March 10, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.