Bed Bath and Beyond

Gustavo Arnal was facing a shareholder lawsuit accusing him and others of insider trading after the "meme stock" tanked.

"Bed, Bath & Beyond "finds itself in an unenviable position as it faces steep market share losses, an overabundance of inventory and dwindling cash reserves," they wrote. Even before the shareholder suit, Wall Street's view of Bed, Bath & Beyond had turned sour. The complaint also claims that Cohen lied when he re-stated his ownership of the company and alleged that he had started selling his stock at that point. Cohen and Arnal "engaged in illegal insider trading and fraudulent SEC reporting," the suit claims. Arnal is also named as a defendant in a securities lawsuit that accuses him, his employer and billionaire entrepreneur Ryan Cohen of a pump-and-dump scheme to inflate Bed, Bath & Beyond stock. Cohen is credited with engineering a turnaround at GameStop, and his ownership was seen by some retail investors as a positive signal for Bed, Bath & Beyond. It is still searching for a new CEO and chief marketing officer. Bed, Bath & Beyond did not respond to a request for comment. The stock surged again in March when Cohen, the founder of online pet products company Chewy.com, revealed a nearly 10% stake in the company. "Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company. Arnal also sold 55,000 shares of Bed, Bath & Beyond on August 16, although his disclosure states that the plan to sell started in April. [claims](https://storage.courtlistener.com/recap/gov.uscourts.dcd.246608/gov.uscourts.dcd.246608.2.0.pdf) that Cohen, Arnal, JPMorgan and others "engaged in a fraudulent scheme to artificially inflate the price of BBBY publicly traded stock" and "blatantly misrepresented the value and profitability of BBBY" to entice retail investors to buy shares.

The death of Bed Bath & Beyond Inc's chief financial officer, who fell from New York's Tribeca skyscraper known as the "Jenga" tower on Friday afternoon, ...

ET (1630 GMT), police responded to a 911 call and found a 52-year-old man dead near the building who suffered injuries from a fall. Police identified the man as Arnal. It also comes after Arnal as well as the company were sued on Aug. Register now for FREE unlimited access to Reuters.com

Bed Bath & Beyond on Sunday confirmed that its Chief Financial Officer Gustavo Arnal died over the weekend, after police had said earlier that Arnal fell to ...

Bed Bath also faces a class action lawsuit recently filed in the District of Columbia, accusing it of misrepresenting its value and profitability. In Bed Bath's statement on Sunday, the company noted that Arnal "was instrumental in guiding the organization throughout the coronavirus pandemic." In August, Bed Bath had multiple days with price moves of more than 20%. The New Jersey-based retailer also said it would be cutting 20% of its staff and added that it had secured more than $500 million in new financing, including a loan. Some analysts say that while the turnaround plan announced Wednesday will improve the company's liquidity position, it won't be sufficient to save Bed Bath's business. The cost-cutting measures come as Bed Bath's core business continues to struggle. Arnal joined Bed Bath in 2020 from London-based cosmetics company Avon, just after the start of the coronavirus pandemic. Those sales were made as part of a trading plan he had signed in April. The document also noted he still held 255,396 shares after those latest sales. Arnal left no note behind and did not say anything to his wife, who was home at the time, sources [according to a filing](https://bedbathandbeyond.gcs-web.com/node/16371/html). - Bed Bath said in a statement on Sunday that Arnal "was instrumental in guiding the organization throughout the coronavirus pandemic."

Gustavo Arnal, 52, the chief financial officer of the beleaguered home goods retailer Bed Bath & Beyond, died on Friday. He was brought on to help stabilize ...

Mr. In August, Bed Bath & Beyond disclosed in a regulatory filing that Mr. 16, energized by disclosures by the activist investor Ryan Cohen; Though he had been at Bed Bath & Beyond for only two years, Mr. The company has also been at the center of a volatile few weeks of trading, partly because of a legion of dedicated individual investors. Arnal sold roughly 55,000 shares in Bed Bath & Beyond on Aug. It announced last week that it had secured a loan from the investment firm Sixth Street to shore up its liquidity. Arnal spoke to Bed Bath & Beyond investors on Wednesday, giving them updates about the company’s finances and delivering tough news about the impact of its latest turnaround efforts. The retailer said it had started Arnal’s death was ruled a suicide, according to the New York City Medical Examiner’s Office. The New York Post Gustavo Arnal, 52, the chief financial officer of the beleaguered home goods retailer Bed Bath & Beyond, died on Friday.

Friday's death of Bed Bath & Beyond's CEO, which was confirmed Sunday by the retailer. creates another crisis for the company.

Boards can act now to ensure their plans are ready to meet the challenges of the future,” the post said. “Others are aware of the task’s true complexity and find it overwhelming. Some business leaders are too caught up in the challenges of the present. Some companies are late to the game—but it’s not too late. The time to plan for a crisis is before you're in a crisis,” All signs point to a hiring desert for companies that are unprepared. To backfill the role, it puts pressure on HR and senior leaders to fill the role quickly,” Rymasha said. If the coronavirus taught us anything, it is to expect the unexpected. Understanding which external stakeholders need to be informed when and how is their core competency. t hasbeen burning through cash reserves for several quarters, and a shopper exodus has shaken investor and vendor confidence,” according to the I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him," Harriet Edelman, the independent chair of the Bed Bath & Beyond Inc. In their announcement today, Bed Bath & Beyond made no mention about plans to name his successor or if someone would fill his role on an interim basis.

A man who jumped to his death from a high-rise apartment in Manhattan has been identified by the New York City Police Department as Gustavo Arnal.

. The company is trying to rescue itself and stay out of bankruptcy by shrinking. He was also an esteemed colleague in the financial community." Police said the man "appeared to suffer from injuries indicative from a fall from an elevated position." The statement said Arnal joined Bed Bath & Beyond Inc. Please join us in respecting the family's privacy." The NYPD said in a statement Sunday that Arnal, 52, was found unconscious and unresponsive outside his luxury 57-story skyscraper in the neighborhood of Tribeca around 12:30 p.m.

Gustavo Arnal, the CFO of Bed, Bath and Beyond, fell from a New York high-rise Friday afternoon, according to police.

The company’s stock went into a free fall for days when Cohen signaled that he would drop his shares.It closed Friday at $8.63, a 63 percent drop from its August peak of $23.08. His onboarding at Bed Bath & Beyond was crucial to navigating the organization throughout the coronavirus pandemic, transforming the company’s financial foundation and building a strong and talented team, Bed Bath & Beyond said in a statement. “Our focus is on supporting his family and his team and our thoughts are with them during this sad and difficult time. [ filed a complaint ](https://thebrios.com/wp-content/uploads/2022/08/2022-08-24-Si-v.-Bed-Bath-Beyond-Corporation-1-22-cv-02541-Complaint-1.pdf)alleging that Bed Bath & Beyond, Arnal and Cohen participated in a scheme to inflate the price of its stock to sell shares at a higher price. I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him,” Harriet Edelman said in a statement. “Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company.

Executive vice president and CFO Gustavo Arnal died on Friday. His death came shortly after the home retailer announced layoffs and store closures.

The New Jersey-based retailer said it would cut its workforce by 20% and shutter roughly 150 stores. "I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him," Edelman said. He was pronounced dead at the scene.

The lawsuit claimed CFO Gustavo Arnal was involved in a scheme to artificially inflate the company's value.

The lawsuit alleges Cohen approached Arnal about a plan to control shares of the company so they could both profit. 23—11 days before Arnal’s death—in the U.S. “With control over a significant portion of the public float, Cohen would essentially act as a price support for the stock while Gustavo would act in a similar capacity by controlling the sale of shares by Insiders,” the lawsuit states, according to The company said it was “in the early stages of evaluating the complaint, but based on current knowledge the company believes the claims are without merit,” according to Reuters. [plunged to his death on Friday](https://fortune.com/2022/09/04/bed-bath-beyond-cfo-gustavo-arnal-dies-falls-jenga-building-nyc/) stood accused in a lawsuit—along with activist investor Ryan Cohen—of participating in a “pump and dump” scheme to artificially inflate the company’s value. District Court for the District of Columbia lists the lead plaintiff as Pengcheng Si.

A Bed Bath & Beyond executive is dead after he fell from the downtown Manhattan luxury skyscraper where he lived, the retail giant and police have ...

And the company is still searching for a permanent chief executive officer after former CEO Mark Tritton was [ousted in June](https://apnews.com/article/33fa91f0e8114f4536dd0d1271ae1d2b) after less than three years on the job, according to the AP. Arnal was a resident of 56 Leonard Street, according to police. Arnal was instrumental in guiding the organization throughout the coronavirus pandemic, transforming the Company’s financial foundation and building a strong and talented team," the statement continued. [according to the website MarketBeat](https://www.marketbeat.com/instant-alerts/nasdaq-bbby-insider-buying-and-selling-2022-08-2/). "He was also an esteemed colleague in the financial community." organization is profoundly saddened by this shocking loss."