On August 18, 2022, Cohen reported he had sold all his shares as of August 16, 2022. Right after the disclosure of the filing, BBBY shares tumbled after hours from a record high $30.00 per share to around $22.5 per share. This filing was not disclosed to the public until the market closed the next day, August 17, 2022, at 5:07 pm, when Cohen finished dumping his BBBY shares. Cohen also filed Form 144 on paper providing notice of his intent to sell up to all his shares and additional call options.

However, the Schedule 13D filing was materially false and constitutes a false written filing because Cohen sold most of the 9,450,100 shares when the filing was submitted and intended to create a buying frenzy of BBBY stocks so he could finish selling his shares at an artificially inflated price. On August 16, 2022, Cohen filed a Schedule 13D with the SEC indicating he beneficially owned 9,450,100 shares – approximately 11.8% of the shares outstanding – of BBBY. For four months, BBBY stock climbed from its lowest price of $4.38 per share on July 1, 2022, to $30.00 per share on August 17, 2022. Thereafter, BBBY gave Cohen three board seats. In March 2022, Cohen's corporation, RC Ventures LLC, bought a nearly 10% stake in BBBY. (BBBY) Insiders Manipulated the Company to Enable an Aggressive Pump & Dump SchemeĪccording to the complaint, defendant Ryan Cohen has a history of employing pump and dump schemes to ignite meme stocks to jaw-dropping heights. What is this Case About: Bed Bath & Beyond Inc. If you would like more information about Bed Bath & Beyond Corporation's misconduct, click. (NASDAQ: BBBY) common stock between Maand August 18, 2022, for violations of the Securities Exchange Act of 1934. BBBY operates a nationwide chain of retail stores.

The Class: Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Bed Bath & Beyond Inc.

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