Reported 7 months ago
Billionaire investor Ryan Cohen has successfully defeated a shareholder lawsuit accusing him of profiting from Bed Bath & Beyond shares before the retailer's bankruptcy. U.S. District Judge Dale Ho ruled that Cohen could not be forced to return profits from selling his stake due to the bankruptcy of Bed Bath & Beyond, rendering the claims moot. Cohen, known for founding Chewy and being the CEO of GameStop, faced scrutiny for selling his stake for an estimated $60 million profit prior to the retailer's bankruptcy in 2023.
Source: YAHOO