Johnson Fistel Investigates Barnes & Noble Education, Inc. Over Accounting Irregularities and Financial Restatement
1. Johnson Fistel investigates possible securities law violations by BNED. 2. BNED may have overstated accounts receivable by up to $23 million. 3. Stock price dropped about 21% after disclosure of financial issues. 4. Internal investigation invalidated previous financial statements for several quarters. 5. Attributing issues to a payment processing employee's actions and revenue criteria failures.