The lawsuit, filed in the United States District Court for the District of Columbia on August 23, claims Cohen had approached Arnal about a plan to control shares of Bed Bath and Beyond so they could both profit.Īs part of the plan, the lawsuit claims, Arnal 'agreed to regulate all insider sales by BBBY's officers and directors to ensure that the market would not be inundated with a large number of BBBY shares at a given time.' In fact, revealed how just one week before he died, Arnal was listed as one of the defendants in a class action lawsuit brought by a group of shareholders who claim they lost around $1.2billion when Arnal and majority shareholder Ryan Cohen engaged in a 'pump and dump' scheme. His death came at a difficult time for the home goods chain. Published: 20:00 GMT, 4 September 2022 | Updated: 00:54 GMT, 5 September 2022Īrnal plunged to his death from the 18th floor of the swanky so-called Jenga building in Manhattan's Tribeca neighborhood (pictured) Arnal leaves behind his wife of 28 years and two adult daughters.It alleges he put out 'materially misleading statements' showing the company's finances were improving to artificially raise the share prices.The lawsuit, filed August 23, claims a majority shareholder approached Arnal about a plan to control shares of the company so they could both profit.But he was named in a lawsuit claiming he artificially inflated share prices just one week before his death.He also did not leave behind a note explaining why he jumped from the 18th floor of the famous 'Jenga' tower in lower Manhattan's Tribeca neighborhood.Gustavo Arnal, 52, the chief financial officer for Bed Bath & Beyond, did not say a word to his wife (who was with him in their New York City apartment) before he took his own life on Friday.Bed Bath & Beyond CFO's wife 'was in 18th-floor apartment in NYC's ''Jenga'' building when he suddenly leapt to his death without saying a word to her'
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