NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Bed Bath & Beyond Inc. (NASDAQ: BBBY) arising from allegations that which Ryan Cohen, his investment company RC Ventures LLC and/or the Company may have disseminated misleading business information to the investing public.
SO WHAT: If you purchased or sold securities of Bed Bath & Beyond between August 15, 2022 and August 19, 2022, both dates inclusive, you may be entitled to compensation without payment of any fees or out-of-pocket costs under an arrangement contingent fees. The law firm Rosen is preparing a class action lawsuit seeking to recover the losses of the investors.
WHAT TO DO NEXT: To join the potential class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=8240 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
WHAT DOES IT TALK ABOUT: On March 6, 2022, through his investment firm RC Ventures LLC, Ryan Cohen, the billionaire co-founder of Chewy Inc. who is also chairman of GameStop Corp., sent a letter to the board of directors of Bed Bath & Beyond which announced that it had a 9.8% stake in Bed Bath & Beyond and in which it criticized the management of the company. On this news, Bed Bath & Beyond stock will close 34% higher on March 7, 2022 compared to its close on March 4, 2022, the previous trading day, on extremely high trading volume. 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 his investment firm RC Ventures LLC, announced in an SEC filing the purchase of over one million call options in January 2023 with strike prices of $60, $75 and $80, significantly higher than Bed Bath & Beyond stock. were trading. On this news, Bed Bath & Beyond stock closed 29% higher on August 16, 2022 compared to its close on August 15, 2022, on extremely high trading volume.
Then, on August 18, 2022, Ryan Cohen, through his investment firm RC Ventures LLC, announced that he would sell his entire stake in Bed Bath & Beyond. Also on August 18, 2022, Bloomberg published an article titled “Bed Bath & Beyond Taps Kirkland & Ellis for Help Addressing Debt Load” which revealed that the company had hired a law firm to help settle its debt. On this news, shares of Bed Bath & Beyond fell $4.53 per share, or 19%, to close at $18.55 per share on August 18, 2022, on extremely high trading volume. Shares of Bed Bath & Beyond continued to decline on August 19, 2022, falling $7.52 per share, or 40%, from its close on August 18, 2022, to close at $11.03 per share, on an extremely large volume of transactions.
WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these companies do not bring securities class action lawsuits. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827