© Reuters Bed Bath & Beyond (BBBY) falls after the death of its chief financial officer
By Senad Karaahmetovic
Shares of Bed Bath & Beyond (NASDAQ:) fell more than 15% in pre-market trading on Tuesday after the company’s Chief Financial Officer, 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 was ruled suicide by the New York City Medical Examiner.
Arnal is one of the company’s top executives who was sued in late August for allegedly artificially inflating the company’s stock price, known as a “pump and dump” scheme.
Shares of Bed Bath & Beyond fell last week 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’s share price closed at $8.63 on Friday and is now tipped to open as low as $7.
