BN chairman Len Riggio revealed in an SEC filing that he and his wife sold 2 million shares of Barnes & Noble stock on Tuesday. The sale was below market price, at $13.81 a share, “in a privately negotiated block trade.” As recently as last Thursday those share were worth over $5 million more — before the company disclosed two SEC investigations. Riggio also gave 160,000 shares to The Riggio Foundation, and the foundation itself “made a gift” of 80,000 shares. The filing says “the aforementioned transfers were made for tax planning purposes.” The Riggios still own or control roughly […]
