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Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

Barnes & Noble To Review Grants Of Stock Options

  • Summary: A shareholder filed a suit against Barnes & Noble Inc alleging that it backdated options grants. Barnes & Noble's board said it would conduct a review but said there was no merit to the suit. However, "a review of securities filings shows that Barnes & Noble granted stock options to senior executives at monthly lows", including grants to founder and chairman Leonard Riggio and his brother Stephen, the current CEO. Separately, Corinthian Colleges said it established a committe of independent directors to investigate options grants.
  • Comment on related stocks/ETFs: Barnes & Noble (BKS) and Corinthian Colleges (COCO) join the list of stocks you don't want to own until this is resolved.
Source: Barnes & Noble Joins the Stock Options Backdating Spotlight