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GameStop CEO Sued by Bed Bath & Beyond for Insider Trading (1)

Aug. 2, 2024, 1:32 PM UTC; Updated: Aug. 2, 2024, 4:31 PM UTC
Bernie Pazanowski
Bernie Pazanowski
Reporter
Martina Barash
Martina Barash
Reporter

The company that used to be known as Bed Bath & Beyond Inc. sued Ryan Cohen and his company, RC Ventures LLC, to recover $47 million they made from alleged insider trading in 2022.

Cohen founded the pet food company Chewy Inc. and is the chairman and chief executive officer of the video game company, GameStop Corp.

Between January and August 2022, while the defendants “were acting as BBBY’s statutory directors,” they used insider information to trade BBBY stock, according to the complaint filed Thursday in the US District Court for the Southern District of New York.

The former ...

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