With Barnes & Noble’s stock sinking again after last week’s ever-disappointing quarterly results, chairman Len Riggio stepped in to support the price, buying 1 million shares at a weighted average price of $6.8027 per share. Since 2013 Riggio has been a seller of the shares, not a buyer. (In April 2014 he sold 3.7 million shares in a block trade, claiming it was “part of his long-term financial and estate planning.” At the end of 2013, Riggio and his wife had sold 2 million shares.) Riggio is the beneficial owner of 14 million shares now, or 19.3 percent of shares […]
