Barnes & Noble Inc. was sued by a shareholder over the Securities and Exchange Commission’s investigation into the largest U.S. bookstore chain’s restatement of earnings and an ex-employee’s allegation of improper accounting.
Barnes & Noble Inc. tumbled the most in more than three months after disclosing an investigation by the U.S. Securities and Exchange Commission into its restatement of earnings and a former employee’s allegation of improper accounting.
Barnes & Noble Inc. moved closer to breaking up the largest U.S. bookstore chain after its chief executive officer resigned and it named a manager with a history of spinning off units to its most senior position.
Adelphia Communications Corp. was illegally coerced through the use of commercial loans by Citigroup Inc. , Credit Suisse Group AG and other banks trying to get lucrative investment banking work, a lawyer seeking recovery for the defunct cable television company’s creditors said.
Barnes & Noble Inc.’s founder and chairman, Leonard Riggio, told the bookstore chain he is interested in buying its consumer business and spinning out the unit that makes the Nook tablet, a person familiar with the matter said.