An investigation for investors in Barnes & Noble, Inc. (NYSE: BKS) shares over potential securities laws violations by Barnes & Noble, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/28/2018 -- An investigation was announced for investors of Barnes & Noble, Inc. (NYSE: BKS) shares over potential securities laws violations by Barnes & Noble, Inc.
Investors who purchased shares of Barnes & Noble, Inc. (NYSE: BKS), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Barnes & Noble, Inc. (NYSE: BKS) concerning whether a series of statements by Barnes & Noble, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On July 3, 2018, the Board of Directors of Barnes & Noble, Inc. announced the termination of its Chief Executive Officer, Demos Parneros for violations of the Company's policies. Barnes & Noble, Inc said that the termination is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto.
On August 28, 2018, Demos Parneros, the former Chief Executive Officer of Barnes & Noble, Inc., filed a complaint against Barnes & Noble, Inc. in the United States District Court for the Southern District of New York. The plaintiff asserts claims for breach of contract and defamation under New York law.
In a statement Barnes & Noble, Inc. said that the lawsuit filed by Demos Parneros is nothing but an attempt to extort money from the Company by a CEO who was terminated for sexual harassment, bullying behavior and other violations of company policies after being in the role for approximately one year. The allegations contained in the complaint about Len Riggio are replete with lies and mischaracterizations.
In a recent court filing, Barnes & Noble, Inc. revealed reasons behind the company's dismissal of its former CEO. According to Barnes & Noble, a female subordinate reported two incidents in which she was subject to unwanted touching and comments. Since Parneros' termination, Barnes & Noble, Inc. has reportedly received additional complaints about other inappropriate behavior by Parneros toward female employees. Further, Barnes & Noble says Parneros bullied other staffers and sabotaged the potential sale of the company earlier this year.
Those who purchased shares of Barnes & Noble, Inc. (NYSE: BKS) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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