Barnes & Noble Facing SEC Accounting Investigation

Law360, Los Angeles (December 06, 2013, 7:21 PM ET) -- Barnes & Noble Inc. told investors Thursday that it is being investigated by the U.S. Securities and Exchange Commission for its accounting, including an employee’s allegation that the company improperly reported some of its information technology expenses.

In its quarterly report issued Thursday, the bookseller told investors it was cooperating in the SEC’s investigation of its accounting practices. The company in July told investors it was restating earnings, and said in Thursday’s filing the SEC was investigating that adjustment.

The company’s stock plunged Friday following Thursday’s...
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