Barnes & Noble Settles Backdating Suits

Law360, New York (September 7, 2007, 12:00 AM EDT) -- Barnes & Noble Inc. has agreed to pay $2.75 million to settle all pending shareholder derivative lawsuits that accused the bookseller of improperly backdating stock options.

Barnes & Noble agreed to the payout for plaintiffs’ counsel fees and expenses and also decided to “institute certain corporate governance and internal control measures,” under the settlement, according to a company filing with the U.S. Securities and Exchange Commission on Thursday. Other details of the settlement, under which the company did not admit any liability, were not revealed....
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