October 20, 2020 - An amended complaint was filed.

April 14, 2020 - An investor in shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Bed Bath & Beyond Inc. in connection with certain allegedly false and misleading statements made between October 2, 2019 and February 11, 2020.

Union, NJ based Bed Bath & Beyond Inc., together with its subsidiaries, operates a chain of retail stores.

On January 8, 2020, Bed Bath & Beyond Inc withdrew its fiscal 2019 guidance, purportedly due to pressures on sales and profitability, as well as a new strategic plan for the Company’s operations.

On February 11, 2020, Bed Bath & Beyond Inc. announced its preliminary fourth quarter 2019 financial results. Therein, the Company disclosed a 5.4% decline in comparable sales driven primarily by store traffic declines combined with inventory management issues.

Shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) declined from $16.01 per share on February 6, 2020, to as low as $10.83 per share on February 12, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Bed Bath & Beyond Inc. (NASDAQ: BBBY) common shares between October 2, 2019 and February 11, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 2, 2019 and February 11, 2020, the defendants made false and/or misleading statements and/or failed to disclose that, due to aggressive disposition of inventory, the Company lacked sufficient inventory in key categories to support holiday sales, that the Company’s internal control over inventory levels and financial reporting was not effective, that, as a result of the foregoing, the Company was likely to experience reduced sales, and that, 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.