Dive Brief:

• Barnes & Noble’s stock value fell last week after chairman Leonard Riggio said he sold 3.7 million shares of his company. He retains 20% of the book selling chain’s common stock, and remains the company’s largest shareholder.

• Barnes & Noble CEO Mike Huseby continues to consider ways to stem the company’s falling fortunes. He has said he is considering options like share buybacks and separating various divisions, like the digital Nook business and college-based business, from its still-profitable retail stores.

• The company will not consider the February conditional offer from investment firm G Asset Management to acquire 51% of the company at $22 a share.

Dive Insight:

When the founder and chairman of the board of a company sells off a significant number of shares, as Leonard Riggio has done, it’s always a curiosity and usually a worry. That’s why the bookseller’s stock fell last week at the news that Riggio has unloaded 3.7 million shares. Even with this development, though, Barnes’ & Noble's future fortunes are far from clear.