{"id":490309,"date":"2022-09-05T00:59:23","date_gmt":"2022-09-04T21:59:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bed-bath-beyond-exec-gustavo-arnal-faced-1-2b-suit-before-suicide\/"},"modified":"2022-09-05T00:59:23","modified_gmt":"2022-09-04T21:59:23","slug":"bed-bath-beyond-exec-gustavo-arnal-faced-1-2b-suit-before-suicide","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-exec-gustavo-arnal-faced-1-2b-suit-before-suicide\/","title":{"rendered":"#Bed Bath &#038; Beyond exec Gustavo Arnal faced $1.2B suit before suicide"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23b12bc9823\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23b12bc9823\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bed-bath-beyond-exec-gustavo-arnal-faced-1-2b-suit-before-suicide\/#%E2%80%9CBed_Bath_Beyond_exec_Gustavo_Arnal_faced_12B_suit_before_suicide%E2%80%9D\" >&#8220;Bed Bath &#038; Beyond exec Gustavo Arnal faced $1.2B suit before suicide&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBed_Bath_Beyond_exec_Gustavo_Arnal_faced_12B_suit_before_suicide%E2%80%9D\"><\/span>&#8220;Bed Bath &#038; Beyond exec Gustavo Arnal faced $1.2B suit before suicide&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>A Bed Bath &amp; Beyond exec was facing a $1.2 billion \u201cpump-and-dump\u201d stock-fraud suit when he <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently leaped to his death from his swank 18th-floor apartment in Lower Manhattan last week.<\/p>\n<p>Gustavo Arnal, who was the chief financial officer of BBB, is among the defendants named in a class-action suit that accuses him, Chewy.com founder Ryan Cohen and others of artificially inflating the troubled housewares giant\u2019s share price.<\/p>\n<p>The class-action complaint, filed Aug. 23 in Washington, DC, federal court, alleges that the scheme also involved \u201ca classic attempt to spark a gamma squeeze.\u201d<\/p>\n<p>That tactic relies on the purchase of stock options and was employed during last year\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Stop stock trading frenzy, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fool.com\/investing\/2021\/01\/28\/what-is-a-gamma-squeeze\/\">The Motley Fool website<\/a>.<\/p>\n<p>Cohen, the chairman of GameStop, came under fire last month for making $68.1 million in profits by unloading a stake in BBB that reportedly included 7.78 million shares and options to purchase another 1.67 million.<\/p>\n<p>Cohen\u2019s lucrative 56% gain came about seven months after he first invested in BBB.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide.jpg?w=1024\" alt=\"Bed Bath &amp; Beyond CFO Gustavo Arnal was facing a $1.2 billion stock fraud lawsuit when he jumped to his death from his Manhattan apartment building\" class=\"wp-image-23735161\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bed Bath &amp; Beyond CFO Gustavo Arnal was facing a $1.2 billion stock fraud lawsuit when he jumped to his death from his Manhattan apartment building<\/figcaption><\/figure>\n<p>On Aug. 16, the same day Cohen cashed out, Arnal sold 42,513 shares of BBB stock worth more than $1 million, the MarketBeat website reported at the time.<\/p>\n<p>On Sunday, Reuters said its calculations showed that Arnal had actually sold 55,013 shares but didn\u2019t say how much he netted.<\/p>\n<p>Arnal died Friday in what cops believe was a suicide plunge at 12:20 a.m. from his apartment at 56 Leonard St., a skyscraper known as the \u201cJenga building\u201d because of its unique exterior, which resembles an uneven stack of blocks.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_3.jpg?w=682\" alt=\"Arnal leaped from his apartment in the luxury &quot;Jenga&quot; building in Tribeca on September 2, 2022.\" class=\"wp-image-23735171\" width=\"325\" height=\"487\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_3.jpg?quality=75&amp;strip=all&amp;w=650 650w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_3.jpg?quality=75&amp;strip=all&amp;w=487 487w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_3.jpg?quality=75&amp;strip=all&amp;w=325 325w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_3.jpg?quality=75&amp;strip=all&amp;w=162 162w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_3.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 325px) 100vw, 325px\"\/><figcaption>Arnal leaped from his apartment in the luxury \u201cJenga\u201d building in Tribeca on September 2, 2022.<\/figcaption><figcaption><span class=\"credit\">Robert Miller<\/span><\/figcaption><\/figure>\n<\/div>\n<p>After the disclosure of Cohen\u2019s and Arnal\u2019s stock sales Aug. 17, shares in BBB fell from a \u201crecord high $30\u201d to $8.78 on Aug. 23, according to the suit.<\/p>\n<p>The stock closed at $8.63 a share Friday.<\/p>\n<p>In court papers, plaintiff Pengcheng Si of Falls Church, Va., said she and her spouse bought 8,020 shares of BBB \u201cat artificially inflated prices\u201d between March 25 and Aug. 18 \u201cand have suffered realized and market losses of approximately $106,480.\u201d<\/p>\n<p>Total damages to all BBB shareholders, including the company\u2019s interests, were about $1.2 billion as of Aug. 23, according to the suit.<\/p>\n<p>Other defendants in the suit include JP Morgan Securities, which is accused of helping Cohen and Arnal \u201ceffectuate\u201d their sales \u201cand otherwise launder the proceeds of their criminal conduct.\u201d<\/p>\n<p>BBB, which is named as the lead defendant, is accused of making a \u201cmaterially false and misleading statement\u201d in an Aug. 18 Securities and Exchange Commission filing that said, \u201cWe are pleased to have reached a constructive agreement with [Cohen\u2019s] RC Ventures in March and are committed to maximizing value for all shareholders.\u201d<\/p>\n<p>The suit was first <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/news\/article-11178601\/Bed-Bath-CFO-faced-lawsuit-claiming-engaged-pump-dump-scheme.html\">reported by the Daily Mail<\/a>.<\/p>\n<p>BBB said in a statement to The Post on Sunday, \u201cWe will not comment on litigation and ask that you please respect Mr. Arnal\u2019s family and their privacy at this time.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/bed_bath_beyond.jpg?w=1024\" alt=\"The class action lawsuit accused Arnal and others of engaging in a \u201cpump-and-dump\u201d scheme to artificially inflate the company's stock price.\" class=\"wp-image-23735199\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/bed_bath_beyond.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/bed_bath_beyond.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/bed_bath_beyond.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The class action lawsuit accused Arnal and others of engaging in a \u201cpump-and-dump\u201d scheme to artificially inflate the company\u2019s stock price.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Andrew Kelly<\/span><\/figcaption><\/figure>\n<p>JP Morgan declined comment, while RC Ventures, which is named as a defendant, also, did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely respond to a request for comment.<\/p>\n<p>It\u2019s unclear if Arnal hired a lawyer before his death, and his widow, who was apparently making funeral arrangements Sunday, did not immediately return a voicemail message.<\/p>\n<p>In a statement posted on its website, BBB acknowledged Arnal\u2019s death and said the company was \u201cprofoundly saddened by this shocking loss.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_2.jpg?w=1024\" alt=\"Arnal's body being removed from the scene of the suicide.\" class=\"wp-image-23735210\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/gustavo_arnal_fraud_suicide_2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Arnal\u2019s body being removed from the scene of the suicide.<\/figcaption><figcaption><span class=\"credit\">Robert Miller<\/span><\/figcaption><\/figure>\n<p>\u201cGustavo will be remembered by all he worked with for his leadership, talent and stewardship of our company,\u201d Board of Directors Chair Harriet Edelman said.<\/p>\n<p><em>Additional reporting by Kevin Sheehan<\/em><\/p>\n<p><em>If you are struggling with suicidal thoughts or are experiencing a mental health crisis and live in New York City, you can call 1-888-NYC-WELL for free\u00a0and\u00a0confidential crisis counseling.\u00a0If you live outside the five boroughs, you can dial the 24\/7 National Suicide Prevention hotline at\u00a01-800-273-8255\u00a0or go to\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/suicidepreventionlifeline.org\/\">SuicidePreventionLifeline.org<\/a>.<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/09\/04\/bed-bath-beyond-exec-gustavo-arnal-faced-1-2b-suit-before-suicide\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bed Bath &#038; Beyond exec Gustavo Arnal faced $1.2B suit before suicide&#8221; A Bed Bath &amp; Beyond exec was facing a $1.2 billion \u201cpump-and-dump\u201d stock-fraud suit when he apparently leaped to his death from his swank 18th-floor apartment in Lower Manhattan last week. Gustavo Arnal, who was the chief financial officer of BBB, is among&#8230;<\/p>\n","protected":false},"author":1,"featured_media":490310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/09\/newspress-collage-23734598-1662327412173.jpg?quality=75&strip=all&1662313157&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[132847,77953,71006,72128,70650,70446,71220,132854,70359,73247,50538],"class_list":["post-490309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-9-4-22","tag-bed-bath-beyond","tag-fraud","tag-gamestop","tag-jp-morgan-chase","tag-lawsuits","tag-lower-manhattan","tag-ryan-cohen","tag-stocks","tag-suicide","tag-tribeca"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/490309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=490309"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/490309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/490310"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=490309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=490309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=490309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}