GameStop CEO Trims Insider Trading of Bed Bath & Beyond Suit (1)

The corporation previously known as Bed Bath & Beyond Inc. advanced a lawsuit alleging GameStop Corp. CEO Ryan Cohen and his company collected $47 million through insider trading of the retailer’s stock.

Based on the allegations in the short-swing profit suit against Cohen and RC Ventures LLC, they weren’t corporate insiders when buying bankrupted BBBY’s stock in March 2022, said Judge Naomi Reice Buchwald of the US District Court for the Southern District of New York, partially dismissing the suit on April 18. But Buchwald denied part of their motion to dismiss, given that they purportedly owned more than 10% ...