The Gross Law Firm 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.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (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 was 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/or lacked a reasonable basis.
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.
To receive more information, please fill out the form.