NEW ORLEANS, Jan. 9, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 10, 2014 to file lead plaintiff applications in a securities class action lawsuit against Barnes & Noble, Inc. (NYSE:BKS), if they purchased the Company's securities during the period between February 25, 2013 and December 5, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Barnes & Noble and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 10, 2014.
About the Lawsuit
Barnes & Noble and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that Barnes & Noble: (i) would cease manufacturing the Nook, which had drastically declining sales; (ii) overstated its inventory by $133 million; (iii) expected fiscal 2014 retail losses in high single digits; (iv) was unable to provide timely audited financial results for fiscal 2013; and (v) may be forced to restate its previously-reported financial results.
On December 5, 2013, Barnes & Noble disclosed that the SEC was investigating the Company's past accounting, causing the value of its stock to plummet.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.