Barnes & Noble (which IS still a thing) sued by former CEO
Barnes & Noble is being sued… by their CEO of all people. Actually, it is the former CEO (important detail there) and therein lies the problem. So, former Barnes & Noble CEO Demos Parneros is suing his old company for firing him without cause and “irrevocably damaging” his reputation. The suit alleges breach of contract and defamation and is asking for severance pay, lost wages, and various other damages.
The company doesn’t see it that way… and the bookstore doubled down on its initial claims that Parneros was fired for multiple violations of company policies. In the company’s view, the former CEO is trying to extort money after being canned for sexual harassment, bullying behavior, and other violations.
The last thing they need… is a lawsuit. In case you haven’t noticed, Barnes & Noble is not exactly the go-to shopping destination anymore (if it ever was). However, with competition from Amazon, it seems like a tough road lies ahead for the one-time ruler of books. The company has seen sales decline steadily over the last five years and has lost money in three of those years. At any rate, figuring out whether the reason for firing was fact or fiction should be pretty entertaining for us.