NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Bed Bath & Beyond Inc. (“Bed Bath & Beyond” or the “Company”) (NASDAQ: BBBY). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Twitter and certain of its officers and/or directors engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On March 6, 2022, activist investor Ryan Cohen, through his investment firm RC Ventures LLC (“RC Ventures”), sent a letter to the board of Bed Bath & Beyond announcing that Cohen had acquired a 9.8% interest in the company and criticized its management.

As a result of this news, Bed Bath & Beyond’s stock rose $5.53 per share, or 34%, to close at $21.71 per share on March 7, 2022. On March 25, 2022, Bed Bath & Beyond added three new directors appointed by RC Ventures.

Then, on August 15, 2022, RC Ventures announced the purchase of over a million January 2023 call options with exercise prices of $60, $75, and $80 — all significantly higher than Bed Bath & Beyond stock was trading at the time.

As a result of this news, Bed Bath & Beyond’s share price rose by $4.65 per share, or 29%, to close at $20.65 per share on August 16, 2022.

Finally, on August 18, 2022, RC Ventures announced that it would sell its entire interest in Bed Bath & Beyond. Also on August 18, 2022, Bloomberg published an article titled “Bed Bath & Beyond Taps Kirkland & Ellis for Help Addressing Debt Load” and reported that the company hired a well-known law firm to help with its debt.

As a result of this news, Bed Bath & Beyond’s stock price fell $12.05 per share, or 52.21%, in the following two trading days to close on August 19, 2022 at $11.03 per share.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is one of the…