Barnes & Noble’s quarterly SEC filing following the announcement of their first quarter results earlier this week contains a number of interesting revelations. The SEC investigation first disclosed in December 2013 (and first noticed by us) is nearing an end. While the agency has told BN “it does not intend to recommend any enforcement action” on the initial issues — a restatement of earnings, and an allegation from a former employee that they “improperly allocated certain information technology expenses between its Nook and retail segments” — another point of contention emerged along the way. “The SEC staff has identified an additional matter…resulting from certain historical […]
