Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Bed Bath & Beyond Inc. who purchased shares between October 2, 2019 and February 11, 2020.
Bed Bath & Beyond and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 11, 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.”
On this news, the price of Bed Bath & Beyond’s shares plummeted over 20%.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 15, 2020 to request that the court appoint them lead plaintiff.