Tuesday, September 6, 2022

"Bed Bath & Beyond: Pump and dump allegations 'are without merit'" (BBBY)

Sort of looks like a pump-n-dump:

BigCharts

$5 to $30 to $8.63

Following on Sunday's "Bed Bath & Beyond exec Gustavo Arnal faced $1.2B stock suit when he plunged from NYC building" (BBBY).

From Yahoo Finance, September 6:

Bed Bath & Beyond is responding to a new shareholder lawsuit alleging its former CFO was involved in a pump and dump scheme.

"The company is in the early stages of evaluating the complaint but based on current knowledge the company believes the claims are without merit," Bed Bath & Beyond spokesperson Julie Strider told Yahoo Finance via email.

The lawsuit was filed by shareholder Pengcheng Si, who alleges losses of $106,480 on an investment in Bed Bath & Beyond, against former Bed Bath & Beyond CFO Gustavo Arnal and others on August 23, the week before Arnal committed suicide and the struggling retailer unveiled a turnaround plan....

....MUCH MORE

Again, the complaint itself is available at DocDroid:

https://www.docdroid.net/zZ6hc0A/1-main-pdf#page=14