Bed Bath & Beyond's Lawsuit Against Hudson Bay Gets Thrown Out
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 ' request for comment.
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 ' request for comment.