Left-wing socialism so good...Venezuelan Bed Bath & Beyond CFO plunges to death at New York's Jenga tower

[Leroy N. Soetoro]

https://www.reuters.com/business/bed-bath-beyond-cfo-plunges-death-new-
yorks-jenga-tower-reports-2022-09-04/

Sept 4 (Reuters) - Bed Bath & Beyond Inc's (BBBY.O) chief financial
officer fell to his death from New York's Tribeca skyscraper known as the
"Jenga" tower on Friday afternoon, police said on Sunday, days after the
struggling retailer announced it was closing stores and laying off
workers.

Gustavo Arnal, 52, joined Bed Bath & Beyond (BBBY.O) in 2020. He
previously worked as CFO for cosmetics brand Avon in London and had a 20-
year stint with Procter & Gamble (PG.N), according to his LinkedIn
profile.

On Friday at 12:30 p.m. ET (1630 GMT), police responded to a 911 call and
found a 52-year-old man dead near the building who suffered injuries from
a fall. Police identified the man as Gustavo Arnal.

The police statement did not provide further details on the circumstances
leading to Arnal's death and said the New York City Medical Examiner's
Office would determine the cause of death. Bed Bath & Beyond confirmed his
death in a press statement on Sunday but gave no details.

The big-box chain - once considered a so-called "category killer" in home
and bath goods - has seen its fortunes falter after an attempt to sell
more of its own brand, or private-label goods.

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and
overhaul its merchandising strategy in an attempt to turn around its
money-losing business.

It forecast a bigger-than-expected 26% slump in same-store sales for the
second quarter and said it would retain its buybuy Baby business, which it
had put up for sale. read more

Arnal sold 55,013 shares in Bed Bath & Beyond in multiple transactions on
Aug. 16-17, Reuters' calculations showed based on SEC filings. The sales
amounted to about $1.4 million, and Arnal still had almost 255,400 shares
remaining.

On Aug. 23, the company, Arnal and major shareholder Ryan Cohen were sued
over accusations of artificially inflating the firm's stock price in a
"pump and dump" scheme, with the lawsuit alleging Arnal sold off his
shares at a higher price after the scheme.

The class action lawsuit listed Arnal as one of the defendants and was
brought by a group of shareholders who claimed they lost around $1.2
billion.

The filing in the U.S. District Court for the District of Columbia alleged
that Arnal "agreed to regulate all insider sales by BBBY's officers and
directors to ensure that the market would not be inundated with a large
number of BBBY shares at a given time."

The lawsuit also alleged that he issued materially misleading statements
to investors.

The company said it was "in the early stages of evaluating the complaint,
but based on current knowledge the company believes the claims are without
merit."

Shares in Bed Bath & Beyond have been highly volatile in recent months,
being viewed as a so-called "meme" stock, which trade more on social media
sentiment than economic fundamentals.

Cohen, a billionaire investor, disclosed a stake of nearly 10% in early
March. Cohen's RC Ventures disclosed plans to sell its stake on Aug. 17.
read more


--
"LOCKDOWN", left-wing COVID fearmongering. 95% of COVID infections
recover with no after effects.

No collusion - Special Counsel Robert Swan Mueller III, March 2019.
Officially made Nancy Pelosi a two-time impeachment loser.

Donald J. Trump, cheated out of a second term by fraudulent "mail-in"
ballots. Report voter fraud: sf.n...@mail.house.gov

Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
fiasco, President Trump.

Under Barack Obama's leadership, the United States of America became the
The World According To Garp. Obama sold out heterosexuals for Hollywood
queer liberal democrat donors.

President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.