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Lawsuit filed for Investors in shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY)

04-28-2020 06:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Bed Bath & Beyond Inc. (NASDAQ: BBBY) shares over alleged securities laws violations

A lawsuit was filed on behalf of investors in Bed Bath & Beyond Inc. (NASDAQ: BBBY) shares over alleged securities laws violations

An investor, who purchased shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY), filed a lawsuit over alleged violations of Federal Securities Laws by Bed Bath & Beyond Inc.

Investors who purchased shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) have certain options and for certain investors are short and strict deadlines running. Deadline: June 15, 2020. NASDAQ: BBBY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On January 8, 2020, Bed Bath & Beyond Inc withdrew its fiscal 2019 guidance, purportedly due to pressures on sales and profitability, as well as a new strategic plan for the Company's operations.

On February 11, 2020, Bed Bath & Beyond Inc. announced its preliminary fourth quarter 2019 financial results. Therein, the Company disclosed "a 5.4% decline in comparable sales driven primarily by store traffic declines combined with inventory management issues."

The plaintiff claims that between October 2, 2019 and February 11, 2020, the defendants made false and/or misleading statements and/or failed to disclose that, due to "aggressive disposition of inventory," the Company lacked sufficient inventory in key categories to support holiday sales, that the Company's internal control over inventory levels and financial reporting was not effective, that, as a result of the foregoing, the Company was likely to experience reduced sales, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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