Market Overview

Barnes & Noble Issues Statement in Response to Lawsuit by Terminated CEO


Barnes & Noble, Inc. (NYSE:BKS) today commented on the lawsuit filed by
former CEO Demos Parneros. As announced on July 3, 2018, Mr. Parneros
was terminated for cause following multiple violations of the Company's

The Board of Directors of Barnes & Noble issued the following statement:

The lawsuit filed by Demos Parneros is nothing but an attempt to extort
money from the Company by a CEO who was terminated for sexual
harassment, bullying behavior and other violations of company policies
after being in the role for approximately one year. The allegations
contained in the complaint about Len Riggio are replete with lies and
mischaracterizations. They are an example of someone who, instead of
accepting responsibility for blatantly inappropriate behavior, is
lashing out against a former employer. The Board, advised by legal
counsel at Paul, Weiss, Rifkind, Wharton & Garrison LLP, unanimously
terminated Mr. Parneros' employment following a thorough investigation
that revealed multiple examples of significant misconduct. Mr. Parneros
not only violated his employment agreement, but also compromised the
trust and respect that we strive to foster throughout our organization.

For more than 50 years, since founding Barnes & Noble, Mr. Riggio is
widely known amongst his business associates, colleagues and employees
for his impeccable reputation and as an individual and leader that
upholds the highest standards of integrity and decency.

Mr. Parneros' actions were unacceptable and not representative of the
high standards by which Barnes & Noble operates. At Barnes & Noble, we
are committed to providing an inclusive, welcoming, respectful and safe

Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel
to Barnes & Noble in connection with this matter.

About Barnes & Noble

Barnes & Noble, Inc. (NYSE:BKS) is the world's largest retail
bookseller, and a leading retailer of content, digital media and
educational products. The Company operates 630 Barnes & Noble bookstores
in 50 states, and one of the Web's premier e-commerce sites, (
The Nook Digital business offers a lineup of popular NOOK® tablets and
eReaders and an expansive collection of digital reading and
entertainment content through the NOOK Store®. The NOOK Store (
features digital books, periodicals and comics, and offers the ability
to enjoy content across a wide array of popular devices through Free
NOOK Reading Apps™ available for Android™, iOS® and Windows®.

General information on Barnes & Noble, Inc. can be obtained by visiting
the Company's corporate website at

Barnes & Noble®, Barnes & Noble Booksellers® and Barnes &® are
trademarks of Barnes & Noble, Inc. or its affiliates. NOOK® and the NOOK
logos are trademarks of Nook Digital, LLC or its affiliates.

For more information on Barnes & Noble, follow us on Twitter, Instagram,
Pinterest and Snapchat (bnsnaps), and like us on Facebook. For more
information on NOOK, follow us on Twitter and like us on Facebook.

Forward-Looking Statements

This press release contains certain forward-looking statements (within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended) and
information relating to Barnes & Noble that are based on the beliefs of
the management of Barnes & Noble as well as assumptions made by and
information currently available to the management of Barnes & Noble.
When used in this communication, the words "anticipate," "believe,"
"estimate," "expect," "intend," "plan," "will," "forecasts,"
"projections," and similar expressions, as they relate to Barnes & Noble
or the management of Barnes & Noble, identify forward-looking statements.

Such statements reflect the current views of Barnes & Noble with respect
to future events, the outcome of which is subject to certain risks,
including, among others, the general economic environment and consumer
spending patterns, decreased consumer demand for Barnes & Noble's
products, low growth or declining sales and net income due to various
factors, including store closings, higher-than-anticipated or increasing
costs, including with respect to store closings, relocation, occupancy
(including in connection with lease renewals) and labor costs, the
effects of competition, the risk of insufficient access to financing to
implement future business initiatives, risks associated with data
privacy and information security, risks associated with Barnes & Noble's
supply chain, including possible delays and disruptions and increases in
shipping rates, various risks associated with the digital business,
including the possible loss of customers, declines in digital content
sales, risks and costs associated with ongoing efforts to rationalize
the digital business, risks associated with the eCommerce business,
including the possible loss of eCommerce customers and declines in
eCommerce sales, the risk that financial and operational forecasts and
projections are not achieved, the performance of Barnes & Noble's
initiatives including but not limited to new store concepts and
eCommerce initiatives, unanticipated adverse litigation results or
effects, potential infringement of Barnes & Noble's intellectual
property by third parties or by Barnes & Noble of the intellectual
property of third parties, and other factors, including those factors
discussed in detail in Item 1A, "Risk Factors," in Barnes & Noble's
Annual Report on Form 10-K for the fiscal year ended April 28, 2018, and
in Barnes & Noble's other filings made hereafter from time to time with
the SEC.

Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results or
outcomes may vary materially from those described as anticipated,
believed, estimated, expected, intended or planned. Subsequent written
and oral forward-looking statements attributable to Barnes & Noble or
persons acting on its behalf are expressly qualified in their entirety
by the cautionary statements in this paragraph. Barnes & Noble
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date of this communication.

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