Barnes & Noble Legal News
Edited to add: The official joint statement issued by Demos Parneros and Barnes & Noble Inc. reads as follows: Former CEO Demos Parneros and Barnes & Noble have amicably settled all claims regarding his termination in 2018. This matter has been resolved with no judicial determination of wrongdoing. The terms of the settlement are confidential. Dated: October 14, 2020.
Former Barnes & Noble CEO Demos Parneros has failed in his defamation suit against the company. Judge Judge Mary Kay Vyskocil dismissed his claim, saying “there is no genuine dispute about the truth of the statement that Parneros was terminated for violations of the company policies.” The judge denied B&N’s motion for summary judgement on the good faith and fair dealing claim, however: “Parneros raises a triable question as to whether the timing of his firing was arbitrary.” A breach of contract claim also remains to be decided. A jury trial comes next, with filings and a last conference scheduled for early October. Parneros was fired on July 3, 2018 for “violations of the company’s policies,” with no specifications given. Parneros claimed he was fired over conflicts with chairman Len Riggio, and soon filed suit.
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