Borders sale to Barnes & Noble on hold due to customer privacy issues
September 23, 2011 | 3:21 pm
Lawyers for both Borders and Barnes & Noble have asked the judge to overturn those requirements, but the judge is concerned that such an action might not pass muster at the state and federal levels.
"You recognize the risk that even if I approve the transaction … the Federal Trade Commission or state Attorneys General may decide they’re not satisfied and they bring an enforcement action," the judge said at Thursday’s hearing in U.S. Bankruptcy Court in Manhattan.
Barnes & Noble’s lawyers accuse Borders of concealing the ombudsman’s report, and suggest they would be entitled to back out of their commitment to purchase if the privacy rules are not overturned.
(Found via PaidContent.)