B&N Balks At $11M Attys' Fees In Suit Over Riggio Deal

Law360, Wilmington (August 29, 2012, 1:59 PM EDT) -- Barnes & Noble Inc. objected on Tuesday to the $11 million cut shareholder attorneys want to take out of a $29 million settlement in derivative litigation over the booksellers' 2009 acquisition of founder Leonard Riggio's textbook company, saying the award should be cut in half.

Riggio, who is also B&N’s chairman, agreed in June to pay $29 million back to the company to settle the Delaware Chancery Court suit, which targeted the B&N board for allegedly overpaying in the $529 million deal for Riggio’s Barnes &...
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