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Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer.
Arnal was among several defendants named in a complaint alleging a "pump-and-dump" stock fraud scheme, the Daily Mail first reported.
Bed Bath & Beyond, the lead defendant, allegedly made a “materially false and misleading statement” in a Securities and Exchange Commission (SEC) filing on Thursday, Aug. 18, the report said.
Two days earlier, Arnal sold 55,013 shares of BBB stock worth over $1 million, according to calculations by Reuters.
Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, according to the Daily Mail.
Shares in Bed Bath & Beyond dropped sharply last week after the company announced a restructuring plan that it said would result in the closure of "150 lower-producing stores." Bed Bath & Beyond now has about 900 stores, including those scheduled to be closed.
Bed Bath & Beyond made its first public comments on Arnal's death, saying: “Gustavo will be remembered by all he worked with for his leadership, talent, and stewardship of our company," according to a report by CFO.com.
Arnal joined Bed Bath & Beyond as CFO in May 2020, moving from beauty conglomerate Avon, where he was the company's head of finance.
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