The long-running litigation surrounding Barnes & Noble’s August 2009 acquisition of BN College from company founder and chairman Leonard Riggio is finally over, as Riggio has agreed to settle a series of lawsuits launched by shareholders with a $29 million payment from personal funds. But he won’t actually pay out any money personally; rather, he will forgo some money that is currently owed to him by Barnes & Noble. The settlement reduces by $22.75 million a still outstanding $150 million promissory note that Barnes & Noble owes to Riggio as part of College’s acquisition, plus a $6.3 million reduction in […]
