4 ms·

Why not just retire?

kradeelav 4y ago
"Arnal was named as a defendant in a class action lawsuit accusing him, Ryan Cohen and other large shareholders of engaging in a "pump and dump" scheme to artificially inflate the price of the company's stock." If I had to guess, he was more afraid of the legal ramifications of being sued. Still a tragic loss of life, but paints a little more accurate of a picture.
- vba616 4y ago
  Sizeable companies juggle hundreds of lawsuits simultaneously. Mostly even the financial press doesn't highlight it because to a large company most lawsuits aren't "material" which means they don't have to be detailed in public SEC filings. They can be a big deal to an individual who, say, had their life ruined from a product defect, or lost their life savings, but they're mosquito bites relative to corporate finances. The normal reaction from executives is irritation and propaganda against 'frivolous' lawsuits and plaintiff lawyers. If someone is in mental distress who knows what would put them over the edge, but I don't think such a lawsuit constitutes any sort of explanation in itself.
  - junofan 4y ago
    He also must have (had) insurance right? Would guess it was personal stuff.
- t6jvcereio 4y ago
  Is that the same Ryan Cohen from GME?
  - stnikolauswagne 4y ago
    Yes, some background, he had about a 10% stake in BBBY and sold out of it during the recent bull-run, the announcement of the sale caused the stock to crater 60% or so.
waste_monk 4y ago
He has, in a sense. Permanently. More seriously, if he was emotionally deeply invested in BBBY, having to fire 1 in 5 workers and close 150 stores was probably devastating. I also understand he held a large amount of stock in BBBY which has lost a significant amount of value, and was named as a defendant in a class action suit (something about misleading statements about BBBY's finances, I'm not across the details). Maybe he was facing the prospect of bankruptcy, or otherwise not being in a position to enjoy retirement?
- eloff 4y ago
  Even at current prices he has millions of dollars in stock. People think in illogical ways, but I feel the reason must have been more than just financial.

"Arnal was named as a defendant in a class action lawsuit accusing him, Ryan Cohen and other large shareholders of engaging in a "pump and dump" scheme to artificially inflate the price of the company's stock." If I had to guess, he was more afraid of the legal ramifications of being sued. Still a tragic loss of life, but paints a little more accurate of a picture.

vba616 4y ago
Sizeable companies juggle hundreds of lawsuits simultaneously. Mostly even the financial press doesn't highlight it because to a large company most lawsuits aren't "material" which means they don't have to be detailed in public SEC filings. They can be a big deal to an individual who, say, had their life ruined from a product defect, or lost their life savings, but they're mosquito bites relative to corporate finances. The normal reaction from executives is irritation and propaganda against 'frivolous' lawsuits and plaintiff lawyers. If someone is in mental distress who knows what would put them over the edge, but I don't think such a lawsuit constitutes any sort of explanation in itself.
- junofan 4y ago
  He also must have (had) insurance right? Would guess it was personal stuff.
t6jvcereio 4y ago
Is that the same Ryan Cohen from GME?
- stnikolauswagne 4y ago
  Yes, some background, he had about a 10% stake in BBBY and sold out of it during the recent bull-run, the announcement of the sale caused the stock to crater 60% or so.

waste_monk 4y ago

He has, in a sense. Permanently. More seriously, if he was emotionally deeply invested in BBBY, having to fire 1 in 5 workers and close 150 stores was probably devastating. I also understand he held a large amount of stock in BBBY which has lost a significant amount of value, and was named as a defendant in a class action suit (something about misleading statements about BBBY's finances, I'm not across the details). Maybe he was facing the prospect of bankruptcy, or otherwise not being in a position to enjoy retirement?

eloff 4y ago
Even at current prices he has millions of dollars in stock. People think in illogical ways, but I feel the reason must have been more than just financial.