(Bloomberg) Barnes & Noble Inc. tumbled the most in more than three months on Friday after disclosing an investigation by the U.S. Securities and Exchange Commission into its restatement of earnings and a former employee’s allegation of improper accounting.

The shares fell 12 percent to $14.43 at the close in New York for the biggest one-day decline since August 20. Barnes & Noble dropped 4.4 percent this year.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access