The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Bed Bath & Beyond Inc. (NASDAQ: BBBY) who purchased shares between October 2, 2019 and February 11, 2020. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the Bed Bath & Beyond lawsuit alleges 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.
Shareholders have until June 15, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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