Barnes & Noble chairman sells 3.7 million shares stock

New York -- Leonard Riggio, chairman of Barnes & Noble Inc., has sold 3.7 million shares of Barnes & Noble common stock. After the sale, his holdings are expected to represent approximately 20% of Barnes & Noble’s common stock outstanding.



Riggio said the sale is part of his long-term financial and estate planning and that he has no plans to sell more stock this calendar year.



“After this sale I remain the company’s largest shareholder, a position I feel very good about,” said Riggio. “I love this company and I believe in its future as I do in all of the wonderful people who work here.”