AMC Stock - Did Wall Street Kill Bed Bath & Beyond CFO ?!

AMC Stock - Did Wall Street Kill Bed Bath & Beyond CFO ?!

The executive vice president and chief financial officer of Bed Bath & Beyond who plunged to his death from the 18th floor of a New York City skyscraper on Friday was the subject of a class-action lawsuit alleging that he and majority shareholder, GameStop Chairman Ryan Cohen, had artificially inflated the company’s value in a "pump and dump" scheme. Gustavo Arnal, 52, and Cohen, are listed as defendants in the class-action lawsuit filed last month in the United States District Court for the District of Columbia. Cohen purchased a large stake in BBBY, including call options, on more than 1.6 million BBBY shares with a strike price between $60 and $80 in what, according to the lawsuit, was a "classic attempt to spark a gamma squeeze, in exchange for Gustavo’s assurance that Insiders would not flood … the market with the stock." BBBY stock climbed from $4.38 per share on July 1, 2022, to $30 per share on Aug. 17, 2022. Between March and August, Cohen, Gustavo, and J.P. Morgan Securities LLC — another defendant in the lawsuit — discussed their plan of hyping the stock and exiting their positions of BBBY shares at some point, according to the lawsuit. Bed Bath & Beyond Chief Financial Officer Gustavo Arnal died on Friday, the company and police confirmed.
The 52-year-old executive was found "unconscious and unresponsive" around 12:30 p.m. ET, according to a New York City Police Department report provided to PEOPLE.Arnal appeared to "suffer from injuries indicative of a fall from an elevated position," the report said. He was pronounced dead at the scene by emergency personnel.Bed Bath & Beyond confirmed his death in a statement from Harriet Edelman, Independent Chair of the company's board of directors. How Will this affect AMC Stock in the short squeeze theory?

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