Will Leonard Riggio, B&N's founder and chairman be ousted?

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Will Leonard Riggio, B&N's founder and chairman be ousted?

Sep 27 2010

Billionaire Ron Burkle has a fighting chance of ousting Barnes & Noble Inc's founder and Chairman Leonard Riggio from the top U.S. bookseller's board and taking a director's seat.

If Burkle doesn't win at Tuesday's shareholder meeting, sources tied to this bitter, high-profile battle say he is likely to come back with a bid for the ailing store chain. Either way, investors must brace themselves for a rough ride.

Source: Reuters

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