Barnes & Noble issued a terse statement this afternoon, declaring that they did not reach the predicted settlement with stockholder Ron Burkle and his investment firm Yucaipa.
In response to “press reports of a potential agreement with Yucaipa,” the bookseller issued this statement: “Barnes & Noble and Yucaipa were unable to conclude an agreement on mutually acceptable terms.”
Burkle had sued the bookseller, alleging that shareholders had created an unfair deal keeping him from increasing his stake in the company. The news comes on the heels of last week’s bombshell announcement that the company was considering putting itself up for sale, among other “strategic alternatives.”