An investigation on behalf of current investors of Barnes & Noble, Inc. (Public, NYSE:BKS), who purchased their shares before August 10, 2009, over potential breaches of fiduciary duty and other violations of state law by the board of directors of Barnes & Noble was announced.

The investigation by a law firm focuses on potential breaches of fiduciary duty and other state law violations by the Board of Directors of Barnes & Noble, Inc. [NYSE:BKS] arising out of the proposed acquisition of Barnes & Noble College Booksellers.

Barnes & Noble, Inc. (NYSE: BKS) announced on Monday, August 10, 2009 a definitive agreement to acquire privately held Barnes & Noble College Booksellers, Inc. in a transaction valued at $596 million, or approximately $460 million net of College’s cash on hand on the expected closing date. Barnes & Noble College Booksellers is owned by Barnes & Noble Chairman Leonard Riggio. The law firm “is investigating if the company is overpaying for Barnes & Noble College Booksellers due to that relationship, thus unlawfully harming Barnes & Noble shareholders.” Barnes & Noble, Inc, located in New York, NY , is a bookseller. Barnes & Noble’s principal business is the sale of trade books, mass-market paperbacks, children's books, bargain books, magazines, gift, cafe products and services, music and movies direct to customers. Barnes & Noble reported in 2007 (ending on February 02, 2008) Total Revenue of $5.28667billion with a Net Income of $135.91million and in 2008 (ending on January 31, 2009) Total Revenue of $5.1218billion with a Net Income of $75.92million. Shares of Barnes & Noble, Inc. (NYSE: BKS) traded recently at $20.87 per share, down from a 52weekHigh of $33.64 per share and almost $43 per share in 2007.