NEW YORK, Jan. 9, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Barnes & Noble, Inc. ("Barnes & Noble" or the "Company") (NYSE:BKS) stock between February 25, 2013 and December 5, 2013.
For more information, click here: http://zlk.9nl.com/barnes-noble-bks.
The complaint alleges that defendants misrepresented and/or failed to disclose that: (a) the Company's Nook e-reader sales had drastically declined; (b) the Company would cease Nook manufacturing; (c) the carrying value of Nook assets were impaired by millions and its inventory overstated by $133 million; (d) the Company was expecting fiscal 2014 retail losses in high single digits; (e) the Company had over-accrued certain accounts receivables; (f) the Company was unable to provide timely audited financial results for fiscal 2013; and (g) the Company may be forced to restate its previously reported financial results.
On October 16, 2013, it was announced that the Securities and Exchange Commission was investigating Barnes & Noble in relation to its past accounting.
If you suffered a loss in Barnes & Noble you have until March 10, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/barnes-noble-bks.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP