Market Chatter: Bed Bath & Beyond's Lawsuit Against Hudson Bay Gets Thrown Out

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Market Chatter: Bed Bath & Beyond's Lawsuit Against Hudson Bay Gets Thrown Out

MT Newswires Live07-09 17:50

Bed Bath & Beyond (BBBY) lawsuit over securities violations against hedge fund Hudson Bay Capital was dismissed on appeal, The Wall Street Journal reported Wednesday.

Bed Bath & Beyond's post-bankruptcy successor accused Hudson Bay of raking in $300 million in short-term profits by owning more than 10% of stock, making it ineligible to keep its trading gains under securities laws, the report said.

Hudson Bay rejected the assertion, insisting it had blockers to prevent it from ever owning a stake of more than 10%, the report said.

Bed Bath & Beyond and Hudson Bay did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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