NEW YORK, April 17, 2020 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Bed Bath & Beyond Inc. ("Bed Bath & Beyond" or "the Company") (NASDAQ:BBBY). Investors who purchased Bed Bath & Beyond securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/bbby.
The investigation concerns whether Bed Bath & Beyond and certain of its officers and/or directors have violated federal securities laws.
On January 8, 2020, Bed Bath & Beyond withdrew its fiscal year 2019 guidance, citing pressures on sales and profitability, as well as a new strategic plan for the Company's operations. On this news, Bed Bath & Beyond's stock price fell $3.20 per share, or over 19%, to close at $13.40 per share on January 9, 2020. Then, on February 11, 2020, Bed Bath & Beyond issued a press release announcing 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," 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, Bed Bath & Beyond's stock price fell $3.06 per share, or over 20%, to close at $11.79 per share on February 11, 2020.
If you are aware of any facts relating to this investigation, or purchased Bed Bath & Beyond shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/bbby. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC