Was Bed Bath Beyond A ''Pump And Dump''? Ryan Cohen, Deceased CFO Named In Shareholder Lawsuit
A class action lawsuit alleges that the executive vice president and chief financial officer of Bed Bath Beyond Inc (NASDAQ: BBBY ), who died Friday after falling from the 18th floor of a New York City skyscraper in what the medical examiner said was a suicide, and GameStop Corp. (NYSE: GME ) Chairman Ryan Cohen , artificially inflated the company''s value through a "pump and dump" scheme. The Shareholder Lawsuit: Gustavo Arnal , who died at 52, and Cohen, are named as defendants in the class action lawsuit filed Aug. 23 in the United States District Court for the District of Columbia. Arnal, who had been employed by Bed Bath since 2020, sold 55,013 shares in the business in several transactions totaling almost $1.4 million between Aug. 16 and 17. After the sale, the late CFO still had around 255,400 shares. Related Link: Gustavo Arnal Net Worth Insider Trades The investors behind the lawsuit said that after believing the financial reports and SEC filings of Bed Bath Beyond, they closed short positions and initiated long positions in the shares.
Was Bed Bath Beyond A ''Pump And Dump''? Ryan Cohen, Deceased CFO Named In Shareholder Lawsuit
A class action lawsuit alleges that the executive vice president and chief financial officer of Bed Bath Beyond Inc (NASDAQ: BBBY ), who died Friday after falling from the 18th floor of a New York City skyscraper in what the medical examiner said was a suicide, and GameStop Corp. (NYSE: GME ) Chairman Ryan Cohen , artificially inflated the company''s value through a "pump and dump" scheme. The Shareholder Lawsuit: Gustavo Arnal , who died at 52, and Cohen, are named as defendants in the class action lawsuit filed Aug. 23 in the United States District Court for the District of Columbia. Arnal, who had been employed by Bed Bath since 2020, sold 55,013 shares in the business in several transactions totaling almost $1.4 million between Aug. 16 and 17. After the sale, the late CFO still had around 255,400 shares. Related Link: Gustavo Arnal Net Worth Insider Trades The investors behind the lawsuit said that after believing the financial reports and SEC filings of Bed Bath Beyond, they closed short positions and initiated long positions in the shares.