Ron Burkle’s Yucaipa Cos. files complaint against Barnes & Noble over ‘poison pill’ plan

Burkle’s Yucaipa files complaint vs Barnes & Noble

NEW YORK — Los Angeles billionaire Ron Burkle’s Yucaipa Cos. has filed a complaint against Barnes & Noble Inc., saying the bookseller’s shareholder rights plan is unfair and directors have breached fiduciary duties.

Burkle and his Yucaipa Cos. own about 19 percent of the company’s shares. Burkle sought to add to his stake without triggering the plan but Barnes & Noble rejected that request in February.

Burkle has previously complained in regulatory filings about Barnes & Noble’s shareholder rights plan limiting new stakes by a single investor.

Yucaipa is seeking a revision of the shareholder rights plan as well as a to-be-determined amount in damages and expenses.

Barnes & Noble did not immediately return a request for comment.