OAKLAND, Calif.--(BUSINESS WIRE)--Bed Bath & Beyond, Inc. shares fell over 20% after the company reported preliminary fourth quarter 2019 financial results that included a 5.4% decline in same-store sales and a fall in gross margin for the period. Gibbs Law Group is investigating a potential Bed Bath & Beyond Class Action Lawsuit on behalf of investors who lost money in Bed Bath & Beyond, Inc. (NASDAQ: BBBY) stock.
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On February 12, 2020, Bed Bath & Beyond stock plummeted after the company announced a decline in same-store sales for the fourth quarter, attributed primarily to a decrease in store traffic and inventory management issues. According to the CEO of Bed Bath & Beyond, Mark Tritton, “We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends coupled with our own executional challenges.”
These developments may have come as a surprise to many. Wells Fargo analysts led by Zachary Fadem and quoted by MarketWatch stated, “[W]hile it’s widely understood that a Bed Bath & Beyond turnaround would be no easy task, we believe it’s safe to say that near-term improvement appears increasingly unlikely at this point.”
Following this news, on February 12, 2020, Bed Bath & Beyond’s stock price dropped more than 20% in one day, causing significant harm to investors.
What Should Bed Bath & Beyond Investors Do?
If you invested in Bed Bath & Beyond, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Bed Bath & Beyond, Inc. and certain of its officers and/or directors have violated federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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