As expected, Delaware Chancery Judge Leo Strine approved the settlement of the lawsuit brought by Barnes & Noble shareholders over the deal to purchase BN College from the Riggios. Judge Strine agreed in part with BN’s request to reduce the share of the proceeds going to the lawyers–originally set at $11 million of the $29 million settlement–though he reduced the award to $7 million rather than halving it as BN asked. The value of the remaining $22 million in settlement funds will be garnered by the bookseller’s own treasury, worth about 37 cents a share. (There is no award to […]
