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Riggio Sells Shares, and Barnes & Noble Stock Falls Further

December 11, 2013
By Michael Cader

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 […]

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Filed Under: Bookstores, Finance

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