Any lingering expectation that Barnes & Noble chairman Len Riggio might still take the company’s bookstores private was further dampened Thursday morning by the disclosure that Riggio sold 3.7 million shares of the company’s stock. The SEC filing indicates he received the below-market price of $17.30 per share “in a privately negotiated block trade” yesterday. That reduces his holdings in the company to roughly 20 percent, or approximately 12 million shares. Riggio says in the announcement, “After this sale I remain the company’s largest shareholder, a position I feel very good about. I love this company and I believe in its […]
