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Barnes & Noble lower after disclosing SEC probe

  • Shares of Barnes & Noble (BKS -5.2%) are under selling pressure after the company discloses it is the subject of a SEC probe on its accounting practices.
  • The company was notified on October 13 that the SEC would investigate the restatement of earnings announced on July 29, 2013. A different matter related to allegations of an ex-employee on how IT expenses are reported for Nook and the retail segment will also be looked into.
  • SEC Form 10-K
Comments (4)
  • wyostocks
    , contributor
    Comments (8906) | Send Message
     
    Like watching a painful and very slow death.

     

    Perhaps Starbucks should buy it as they sell more coffee than books.
    6 Dec 2013, 11:48 AM Reply Like
  • golfergene
    , contributor
    Comments (4) | Send Message
     
    Nothing to fear! Now's the time to get on board.
    7 Dec 2013, 09:56 AM Reply Like
  • ratnamsub
    , contributor
    Comments (372) | Send Message
     
    When the odd goes against BKS then manipulating the numbers is the easy way out. Is this the end of BKS. Surely No!
    7 Dec 2013, 01:24 PM Reply Like
  • Peter Larson
    , contributor
    Comments (642) | Send Message
     
    I'm pretty sure the SEC always launches an investigation following an earnings restatement. It's the most common type of investigation, and also the least likely to uncover anything serious.
    8 Dec 2013, 11:24 AM Reply Like
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