Billionaire Burkle's Suit Over B&N Poison Pill Nixed

Law360, New York (August 12, 2010, 3:59 PM EDT) -- A Delaware judge has shot down billionaire Ron Burkle's suit claiming Barnes & Noble Inc. engaged in a self-dealing scheme when it adopted rules that allegedly tilted the playing field against any possible challenge to the company's slate of directors.

The adoption of the plan was a good faith, reasonable response to a threat to Barnes & Noble and its stockholders,Vice Chancellor Leo Strine of Delaware Chancery Court ruled Wednesday.

Burkle's Yucaipa American Alliance Fund II LP filed suit in May, accusing the Riggio family, the...
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