NEWTOWN, Pa., Sept. 14, 2022 (GLOBE NEWSWIRE) — The law firm of Edelson Lechtzin LLP is investigating on behalf of all buyers of Bed Bath & Beyond, Inc. (“Bed Bath & Beyond” or the “Company”) BBBY Common Stock between March 25, 2022 and August 18, 2022 inclusive (the “Class Period”).

Investors who purchased Bed Bath & Beyond common stock during the Class Period may petition the United States District Court for the District of Columbia to appoint them lead plaintiffs October 24, 2022. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. Investors wishing to discuss the lead plaintiff selection process should contact Edelson Lechtzin LLP toll free at 1-844-696-7492 or email at [email protected]. A copy of the class action lawsuit is available for inspection here.

Background on the Bed Bath & Beyond securities fraud class action lawsuit

Bed Bath & Beyond is an American chain of retail home goods stores located in the United States, Canada, Mexico and Puerto Rico. A class-action lawsuit has been filed against Bed Bath & Beyond, the company’s former CFO Gustavo Arnal, and billionaire investor Ryan Cohen, alleging that they were involved in an illegal “pump and dump” scheme.

Specifically, Ryan Cohen, through his investment firm RC Ventures LLC, reportedly sent a letter to the board of Bed Bath & Beyond on March 6, 2022, announcing that he owned 9.8% of the company and criticizing management . As a result of this news, Bed Bath & Beyond’s stock price rose 34% on March 7, 2022 on extremely high volume. On March 25, 2022, Bed Bath & Beyond added three new directors appointed by Ryan Cohen’s firm, RC Ventures LLC.

On August 15, 2022, Cohen, through his investment firm, announced in an SEC filing that he was purchasing over a million January 2023 call options with strike prices of $60, $75, and $80 — significantly higher than Bed Bath & Beyond stock back then. ..