Barnes & Noble Education, Inc. (NYSE: BNED)

This investigation is for anyone who acquired securities in Barnes & Noble Education, Inc. (NYSE: BNED) prior to August 29, 2025.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had sufficient financial controls in place when the Company lacked such controls.

On July 18, 2025, Barnes & Noble disclosed that “[c]ertain information regarding the recording of cost of digital sales was brought to the attention of management” and that, as a result, “management believes that the Company may have a potential overstatement of up to $23.0 million in the aggregate to its accounts receivable balance as of its May 3, 2025 fiscal year-end.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on August 29, 2025, Barnes & Noble disclosed, as the result of its internal investigation, it had determined its previously-issued financial statements for the fiscal year ended April 27, 2024 through the quarter ended January 25, 2025, should no longer be relied upon. The Company further disclosed preliminary results of the financial impact of its expected restatement, as well as two causes, including “the actions of a payment processing employee,” and the identification of certain sales “that did not meet the criteria for revenue recognition.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Barnes & Noble Education, Inc. (NYSE: BNED) prior to August 29, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.