Barnes & Noble’s stock was having a rough day in Thursday morning trading and then briefly plunged in the afternoon following an SEC filing by large shareholder Ron Burkle. What he reported to the SEC is that two of the entities he controls–Yucaipa American Alliance Fund II and Yucaipa American Alliance (Parallel) Fund II–are going to “distribute in-kind” their shares to the funds’ owners. (It’s difficult to tell from Burkle’s filing how his 19.74 percent block of Barnes & Noble stock is spread among multiple entities, each of which is credited with substantial interest in same pool of shares.) The market’s […]
