Shares of Barnes & Noble fell on Friday after the company said it was cooperating in a Securities and Exchange Commission investigation into its accounting.
The SEC told the bookseller Oct. 16 that it was investigating the company's restatement of earnings announced in July as well as an employee allegation that it improperly allocated some information-technology expenses between its Nook and retail segments, according to a filing made after the market closed Thursday.
Barnes & Noble has been working on a turnaround in the face of tough competition and customers increasingly choosing digital books, music and video.
Shares fell $1.23, or 7.5 percent, to $15.16 in midday trading. The stock is up about 9 percent since the beginning of the year.
- No timeline announced yet for Cottonwood Mall...
- About Utah: A Salt Lake hit for 152 years ......
- Kennecott hopes project will change mountain...
- Feds eye stricter rules for railroad rights...
- 10 jobs you can get right now
- 6 financial moves to prevent sleepless nights
- 3 ways insurers can still avoid covering the...
- It's not just Hello Kitty: Japan's character...
- 10 things to know about corporate... 32
- Kennecott hopes project will change... 6
- State lawmaker calling for criminal... 5
- Cantwell targets small business loan... 4
- Applications for US unemployment aid... 4
- Fallon to lead honors as Leno wins top... 2
- Feds eye stricter rules for railroad... 2
- Eagle Mountain votes to accept Rocky... 2