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Jul 12 2010
In court testimony Friday, the second day of trial in the suit by Ron Burkle's Yucaipa Companies against Barnes & Noble over B&N's "poison pill" provision, B&N chairman Len Riggio testified that the provision was not about "me and my family," the Wall Street Journal reported.
However, lawyers for Yucaipa then showed a videotaped deposition in which Riggio said, "The pill was about me and my family." (He and his family own at least 32% of B&N stock; the poison pill, enacted as Yucaipa was quickly buying shares, limits outside investors to 20%.)
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