SAN DIEGO, Feb. 10, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on March 10, 2014 in the lawsuit filed on behalf of certain investors in shares of Barnes & Noble, Inc. (BKS) over alleged Securities Laws Violations by Barnes & Noble, Inc. in connection with certain allegedly false and misleading statements made between June 27, 2012 and December 5, 2013.
If you purchased a significant amount of shares of Barnes & Noble, Inc. (BKS) between June 27, 2012 and December 5, 2013, and / or if you purchased BKS shares prior to June 2012 and currently hold any of those shares, you have certain options and you should contact the Shareholders Foundation before March 17, 2014 at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants allegedly misrepresented or failed to disclose that Barnes & Noble, Inc.'s Nook e-book reader sales had dramatically declined, that Barnes & Noble, Inc. would shutter its Nook manufacturing operations altogether, that the carrying value of the Nook assets were impaired by millions of dollars, that the carrying value of the Nook inventory was overstated by $133 million, that Barnes & Noble, Inc. was expecting fiscal 2014 retail losses in the high single digits, that Barnes & Noble, Inc. had over-accrued certain accounts receivables, that Barnes & Noble, Inc. was unable to provide timely audited financial results for fiscal 2013, and that Barnes & Noble, Inc. might be forced to restate its previously reported financial results.
On December 5, 2013, Barnes & Noble, Inc. reported its financial results for the fiscal quarter that ended on October 26, 2013. Among other things, Barnes & Noble, Inc. disclosed that on October 16, 2013, the SEC's New York Regional office notified Barnes & Noble, Inc. that it had commenced an investigation into Barnes & Noble's restatement of earnings announced on July 29, 2013, into a separate matter related to a former non-executive employee's allegation that Barnes & Noble, Inc. improperly allocated certain Information Technology expenses between its NOOK and Retail segments for purposes of segment reporting.
Those who purchased shares of Barnes & Noble, Inc. have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.