San Diego, CA -- (SBWIRE) -- 01/21/2014 -- An investor, who purchased shares of Barnes & Noble, Inc. (NYSE:BKS), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Barnes & Noble, Inc. in connection with certain allegedly false and misleading statements made between February 25, 2013 and December 5, 2013.

If you purchased shares of Barnes & Noble, Inc. (NYSE:BKS), you have certain options and for certain investors are short and strict deadlines running. Deadline: March 10, 2014. NYSE:BKS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Barnes & Noble, Inc. (NYSE:BKS) between February 25, 2013 and December 5, 2013, that Barnes & Noble, Inc. and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims that the defendants allegedly misrepresented or failed to disclose thatBarnes & 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.

Barnes & Noble, Inc. reported that its Total Revenue declined from over $7.12 billion for the 52 weeks period that ended on April 28, 2012 to over $6.83 billion for the 52 weeks period that ended on April 27, 2013 and that its respective Net Loss increased from $64.84 million to $157.81 million.

On June 26, 2013, Barnes & Noble, Inc disclosed in a filing with the SEC that it would be unable to timely file its Form 10-K for the 2013 fiscal year and stated that the Company is currently in the process of evaluating certain prior year amounts, which may result in a revision to the financial statements. On July 12, 2013, the Company issued a press release disclosing that the Company’s Chief Executive had resigned.

Shares of Barnes & Noble, Inc. (NYSE:BKS) declined from $23.31 per share in May 2013 to as low as $12.83 per share in October 2013.

Then 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. (NYSE:BKS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com