© Reuters Bed Bath & Beyond (BBBY) Tumbles After CFO Death
By Senad Karaahmetovic
Shares of Bed Bath & Beyond (NASDAQ:) are down more than 15% in premarket Tuesday after the company’s CFO, Gustavo Arnal, was found dead on Friday. The company confirmed his death in a press release on Sunday.
Arnal fell from the “Jenga” tower in New York, in an accident that has been ruled a suicide by the New York City Medical Examiner’s Officer.
Arnal was one of the company’s top executives that were sued in late August for the alleged artificial inflation of the company’s stock price, known as a “pump and dump” scheme.
Last week, shares of Bed Bath & Beyond fell after the company presented its much-anticipated strategic turnaround plan. Among other things, BBBY said it would close 150 stores and cut jobs.
Bed Bath & Beyond stock price closed at $8.63 on Friday and is now indicated to open in the low $7s.