He jumped to his death. BBBY was recently in the news because it was a short-lived repeat of Gamestop's meme stock pump. The company wasn't doing well because it sells overpriced home goods in brick & mortar stores. The stock price was low. Shorts came in, some whales got word and tried to short squeeze it (Ryan Cohen of r/superstonk fame, GME hero of reddit retail traders). Retailers (r/WSB) caught on and started pumping it. Naturally, the institutional investors got out at the top (So much for diamond hands). Retail traders are left holding the bags once again. BBBY stock price is back down below $10. Reddit has been posting suicide hotlines over the past week. People on r/wsb are talking about how they gambled away their life savings again.
Sorry for the chud news source.
On Aug. 16, Arnal sold 42,513 shares in company stock for a little over a $1 million, according to MarketBeat.com.
In 2021, he made more than $2.9 million via Bed Bath & Beyond, including $775,000 in salary and the rest in stock awards, according to InsiderTrades.com.
The company said it has obtained more than $500 million in new financing and was reducing 20% of its workforce. It plans to close about 150 namesake stores but will keep its buybuy BABY chain.
This is what always blows my mind about these stories. I know suicide isn't rational, but if I found myself in the position I would just retire and like buy a small farm in Vermont or something.
Even if he did something illegal, it's a white collar crime so he'd only go to jail for a couple years. This guy had a choice between spending 5 years in minimal security and then going to Vermont to make artisanal goat cheese, or death, and he picked death.
If he did illegal stuff - he let the trial start and then flee the US and hide somewhere that has no extradition treaty with the US. The judge will get mad and the guy would probably get the max sentence plus extra time - but who cares? He's never going to serve time anyway.