Post by The Ultimate Nullifier on Dec 11, 2013 7:55:20 GMT -6
The sharks are circling Barnes & Noble, drawn by the blood in the water from the SEC’s investigation of the company. We counted eight press releases from shareholder rights law firms seeking clients for possible lawsuits against Barnes & Noble since the announcement of the investigation last Friday.
A typical release, from Morgan & Morgan, said that the firm is "investigating whether certain officers and directors of Barnes & Noble... violated state or federal laws."
It’s not uncommon that a restatement of earnings draws this kind of interest, but the addition of the SEC investigation of the restatement, plus questions about issues raised by a Barnes & Noble whistleblower, also being investigated by the SEC, is chum for this crowd.