SAN DIEGO, Nov. 23, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Bed Bath & Beyond Inc. (NASDAQ: BBBY) against certain of its officers and directors.
Recently a class action lawsuit was filed in federal court against the Company on behalf of purchasers of the securities of Bed Bath & Beyond from October 2, 2019 through February 11, 2020 (the "Class Period").
According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose: (1) due to "aggressive disposition of inventory," the Company lacked sufficient inventory in key categories to support holiday sales; (2) the Company's internal control over inventory levels and financial reporting were not effective; (3) as a result of the foregoing, the Company was likely to experience reduced sales; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you are a current, long-term shareholder of Bed Bath & Beyond, holding shares before October 2, 2019, you may have standing to hold Bed Bath & Beyond harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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