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Court Approves $29 Million Settlement in Barnes & Noble

On September 4, 2012, the Delaware Chancery Court granted final approval to the settlement of In re Barnes & Noble Stockholder Litigation, C.A. No. 4813-VCS. The settlement resulted in the recovery of $29 million for Barnes & Noble in the form of reductions to the principal and interest payable to Leonard Riggio for the company’s 2009 acquisition of his private company, Barnes & Noble College Booksellers, Inc. KSF was Lead Counsel with other firms, representing Louisiana Municipal Police Employees Retirement System. Plaintiffs had alleged that the purchase price, and the process by which it was agreed to, was not entirely fair to Barnes & Noble and harmed shareholders.