Bed bath & beyond investigation initiated by former louisiana attorney general: kahn swick & foti, llc investigates the officers and directors of bed bath & beyond inc. - bbby
New orleans--(business wire)--former attorney general of louisiana, charles c. foti, jr., esq., a partner at the law firm of kahn swick & foti, llc (“ksf”), announces that ksf has commenced an investigation into bed bath & beyond inc. (nasdaqgs: bbby). in january 2020, the company withdrew its previously announced financial guidance completely and reported that its gross margins had dropped by 80 basis points. then, in february 2020, the company announced its preliminary 4q2019 financial results, disclosing “a 5.4% decline in comparable sales driven primarily by store traffic declines combined with inventory management issues,” including that “inventory within certain key categories in the bed bath & beyond assortment was too low or out-of-stock during the period” and that it was “immediately reforming its internal planning and inventory management procedures to master the fundamentals.” thereafter, the company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the class period, violating federal securities laws. ksf’s investigation is focusing on whether bed bath & beyond’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. if you have information that would assist ksf in its investigation, or have been a long-term holder of bed bath & beyond shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email ksf managing partner lewis kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-bbby/ to learn more. about kahn swick & foti, llc ksf, whose partners include former louisiana attorney general charles c. foti, jr., is one of the nation’s premier boutique securities litigation law firms. ksf serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. ksf has offices in new york, california and louisiana. to learn more about ksf, you may visit www.ksfcounsel.com.
BBBY Ratings Summary
BBBY Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission