Len Riggio’s willingness to pay an above-market price to convert almost 1 million options into Barnes & Noble shares has sparked the latest legal appeal from Yucaipa, which filed a motion in Delaware today asking for review by the state’s Supreme Court. According to their statement, Yucaipa moved to set aside the initial ruling after Riggio exercised his options and was denied. But the say the court indicated in that denial that the initial case “was tried on the premise that… Len Riggio would not be exercising out-of-the-money options” and found his doing so was “awkward.” It appears that Yucaipa […]
