41°
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.
Click here to follow Daily Voice Chappaqua and receive free news updates.
