Aletheia Research and Management

Just as rumors of a merger with Borders Books began to fade, the bookseller is once again in the spotlight as a major stakeholder, Aletheia Research and Management, is embroiled in legal troubles and an SEC investigation.

Back in September, billionaire Ron Burkle lost his proxy war with Barnes & Noble's board, failing to kill the poison pill that kept him from upping his stake in the company. That made Wednesday's shareholders meeting all but a formality. But what's next for the nation's largest bookseller?

A bitter proxy fight climaxed at Tuesday's shareholder meeting. In the end, B&N Chairman Len Riggio's defeat of dissident shareholder Ron Burkle was more fait accompli than 11th-hour surprise. And it left lots of questions unanswered.

Barnes & Noble's board has sent a letter to shareholders urging them to vote to rebuff investor Ron Burkle's battle to control the bookseller. The letter is part of annual-meeting materials B&N mailed to shareholders, formally launching its proxy battle.

After losing in court, renegade investor Ron Burkle is poised to launch a proxy contest for Barnes & Noble that will be tinged by animosity between Burkle and B&N founder and chairman Leonard Riggio.

The fight between Barnes & Noble and its second-largest shareholder, Ron Burkle, appears to be over. A deal has apparently been reached that would give Burkle three board seats in exchange for dropping his suit.

Ron Burkle is once again a stockholder scorned, his latest attempt to get a better foothold in Barnes & Noble's stock denied. The book retailer's board responded that "there is absolutely no basis whatsoever for the allegations made."

When billionaire Ron Burkle went on a Barnes & Noble stock buying spree late last year, the bookseller responded with a "poison pill" measure to prevent a hostile takeover. But another firm's stock buys suggest there's an alliance in the works that may hold the antidote to the poison.