Possibly facing accounting fraud issues?
From 2014 to 2020, the stock dropped from $80 to $5.
In 2020, it suddenly roared from $5 to almost $55 in twelve months.
The stock has had huge inexplicable volatility over the last nine months - from $30 to $5, then back to $30, now at $8.
I suspect the SEC, IRS, or FBI informed the CFO they wanted an interview.
During the interview, the feds would inform the CFO that the only way he can avoid heavy prison time is to testify against the senior executives and largest stock holders.
The only unanswered question - did the CFO go over the railing voluntarily?
After the SEC and FBI are done with him, if there’s any flesh left on his bones, the shareholder lawsuits will pick them clean.
There are people around here far more competent to speak on this subject than I but even I know that there is a belief that those little wicks like those on the left are you and I betting our retirement money and the long wicks on the right often suggest heavy hitters and institutions playing games.
I think there certainly was a possibility that he knew something specific.
According to
The Daily Mail:
The Bed Bath & Beyond CFO who plunged to his death on Friday was being sued for artificially inflating the company's stock price in a 'pump and dump' scheme to sell off his shares at a higher price, DailyMail.com can reveal. Gustavo Arnal, 52, is 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.
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.
As 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.'
He then allegedly issued 'materially misleading statements made to investors regarding BBBY's strategic company plans, financial condition... and reports of shares holding and selling' to help increase share prices.
-PJ
