Bed Bath & Beyond: Pump and Dump Allegations Are Without Merit

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Bed Bath & Beyond: Pump and Dump Allegations Are Without Merit

Yahoo Finance2022-09-06

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.

The other two defendants named in the lawsuit are prominent $BBBY shareholder Ryan Cohen — who is facing scrutiny over trades he recently made — and the retailer's oft-used banker JP Morgan.

"Cohen has historically employed pump and dump schemes to raise much needed capital and has ignited several meme stocks to jaw-dropping heights," the lawsuit alleged.

A representative for Cohen didn't return Yahoo Finance's request for comment on the allegations.

Shares of Bed Bath & Beyond crashed 15% in pre-market trading on Tuesday news of Arnal's death and the fresh allegations.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（4）

Raymond Lee
·2022-09-06
Hope that company can turnaround soon and slowly recover from these ordeal..
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来人
·2022-09-06
Ok
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youtiao
·2022-09-06
Ok
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JIREH
·2022-09-06
They denied the accusations! SHOCKING!
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the complaint but based on...</p>\n\n<a href=\"https://finance.yahoo.com/news/bed-bath-beyond-pump-and-dump-lawsuit-103853539.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://finance.yahoo.com/news/bed-bath-beyond-pump-and-dump-lawsuit-103853539.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2265067061","content_text":"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.The other two defendants named in the lawsuit are prominent $BBBY shareholder Ryan Cohen — who is facing scrutiny over trades he recently made — and the retailer's oft-used banker JP Morgan.\"Cohen has historically employed pump and dump schemes to raise much needed capital and has ignited several meme stocks to jaw-dropping heights,\" the lawsuit alleged.A representative for Cohen didn't return Yahoo Finance's request for comment on the allegations.Shares of Bed Bath & Beyond crashed 15% in pre-market trading on Tuesday news of Arnal's death and the fresh allegations.","news_type":1,"symbols_score_info":{"BBBY":1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9931281615,"gmtCreate":1662466838337,"gmtModify":1676537066338,"author":{"id":"4107418554939270","authorId":"4107418554939270","name":"youtiao","avatar":"https://community-static.tradeup.com/news/5df6d3b19df0d67ebde3495a94a8bc58","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":11,"crmLevelSwitch":0,"idStr":"4107418554939270","authorIdStr":"4107418554939270"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9931281615","repostId":2265067061,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9931290456,"gmtCreate":1662462226575,"gmtModify":1676537065239,"author":{"id":"3558491675511537","authorId":"3558491675511537","name":"JIREH","avatar":"https://static.tigerbbs.com/2cd864cefd7265d4a5765fb2950cba67","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3558491675511537","authorIdStr":"3558491675511537"},"htmlText":"They denied the accusations! SHOCKING!&nbsp;","listText":"They denied the accusations! SHOCKING!&nbsp;","text":"They denied the accusations! SHOCKING!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9931290456","repostId":2265067061,"repostType":2,"repost":{"id":"2265067061","kind":"highlight","pubTimestamp":1662462011,"share":"https://ttm.financial/m/news/2265067061?lang=&edition=fundamental","pubTime":"2022-09-06 19:00","market":"us","language":"en","title":"Bed Bath & Beyond: Pump and Dump Allegations Are Without Merit","url":"https://stock-news.laohu8.com/highlight/detail?id=2265067061","media":"Yahoo Finance","summary":"Bed Bath & Beyond is responding to a new shareholder lawsuit alleging its former CFO was involved in","content":"<html><head></head><body><p>Bed Bath &amp; Beyond is responding to a new shareholder lawsuit alleging its former CFO was involved in a pump and dump scheme.</p><p>&#34;The company is in the early stages of evaluating the complaint but based on current knowledge the company believes the claims are without merit,&#34; Bed Bath &amp; Beyond spokesperson Julie Strider told Yahoo Finance via email.</p><p>The lawsuit was filed by shareholder Pengcheng Si, who alleges losses of $106,480 on an investment in Bed Bath &amp; Beyond, against former Bed Bath &amp; Beyond CFO Gustavo Arnal and others on August 23, the week before Arnal committed suicide and the struggling retailer unveiled a turnaround plan.</p><p>The other two defendants named in the lawsuit are prominent $BBBY shareholder Ryan Cohen — who is facing scrutiny over trades he recently made — and the retailer&#39;s oft-used banker JP Morgan.</p><p>&#34;Cohen has historically employed pump and dump schemes to raise much needed capital and has ignited several meme stocks to jaw-dropping heights,&#34; the lawsuit alleged.</p><p>A representative for Cohen didn&#39;t return Yahoo Finance&#39;s request for comment on the allegations.</p><p>Shares of Bed Bath &amp; Beyond crashed 15% in pre-market trading on Tuesday news of Arnal&#39;s death and the fresh allegations.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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