Barnes & Noble Wants Derivative Suit Tossed

Law360, New York (March 8, 2011, 4:13 PM EST) -- Barnes & Noble Inc. on Monday asked a New York federal court to toss a derivative class action claiming members of the bookstore chain's board of directors have mismanaged the company due to their allegedly cozy relationship with Chairman Leonard Riggio.

In a motion to dismiss filed with the U.S. District Court for the Southern District of New York, Barnes & Noble argues that the central allegation in the complaint — that several board members are "beholden" to Riggio — is simply not true, and that...
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