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NEW YORK, Aug. 31, 2022 /PRNewswire/ — Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
- Bed Bath & Beyond, Inc. (NASDAQ: BBBY)
***Contact fmoore@moorekuehn.com only if you acquired shares before March 25, 2022
Moore Kuehn is investigating Bed Bath & Beyond insiders after insiders profited at least $110 million from their Insider stock sales from August 16 to August 17, 2022.
On March 6, 2022, through his investment firm RC Ventures LLC, Ryan Cohen sent a letter to Bed Bath & Beyond’s board which announced that he owned a 9.8% stake in Bed Bath & Beyond and in which he criticized the Company’s management. On March 25, 2022, Bed Bath & Beyond added three new directors appointed by Ryan Cohen’s investment firm, RC Ventures LLC.
On August 15, 2022, Ryan Cohen, through RC Ventures LLC, announced in an SEC filing purchases of over one million January 2023 call options with exercise prices at $60, $75, and $80—significantly higher than Bed Bath & Beyond shares were trading. On August 18, 2022, Ryan Cohen, through RC Ventures LLC, announced that he would sell his entire stake in Bed Bath & Beyond.
On this news, Bed Bath & Beyond shares fell $4.53 per share, or 19%, to close at $18.55 per share on August 18, 2022. Bed Bath & Beyond shares continued to drop on August 19, 2022, falling $7.52 per share, or 40%, from its August 18, 2022 close, to close at $11.03 per share. On August 19, 2022, Bed Bath & Beyond stock plunged to a new low of $9.68.
The stock price continued to decline over the next two trading days, falling an additional 16.23% on August 22, 2022, and falling another 4.98% on August 23, 2022, dropping over 70% from August 17’s high price in five trading days after the insider stock sales.
If you still own Bed Bath & Beyond, Inc. or BBBY please contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com or telephone at (212) 709-8245.
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com
(212) 709-8245
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