LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the securities of Barnes & Noble, Inc. (“Barnes & Noble” or the “Company”) (NYSE:BKS) between July 27, 2012 and December 5, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Barnes & Noble operates as a content, commerce and technology company in the United States, providing access to books, magazines, newspapers and other content through its multi-channel distribution platform. The Complaint alleges that during the Class Period 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 are a member of the Class described above, you may move the Court no later than March 10, 2014 to serve as lead plaintiff; however, you must 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 or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.