Barnes & Noble Blames Law Firm For Backdating

Law360, New York (April 5, 2007, 12:00 AM EDT) -- An internal investigation at bookstore chain Barnes & Noble Inc. has uncovered evidence of widespread options backdating, but the bookstore attributes the questionable options dates to a misunderstanding over the legality of the practice.

A special committee appointed by the Barnes & Noble board of directors reviewed all options grants at the company between 1996 and 2006 and found that, although there was not “any intent to defraud,” there were numerous instances of backdating.

“The special committee found instances of both stock option grants that had...
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