Former Bed Bath & Beyond CEO Mark Tritton was ousted last June as chief executive and is suing the retailer for failing to honor his severance deal.
The former chief executive of Bed Bath & Beyond filed a lawsuit on Friday against the retailer accusing the company of failing to honor his severance agreement.The lawsuit says
Bed Bath & Beyond stopped making required bi-monthly payments in January on Tritton's $6,765,000 severance agreement. According to the complaint filed in a New York state court in Manhattan, the company's chief legal officer cited the need to preserve cash.Tritton also accused the company of "bad faith" for proposing a "buyout" of his severance at a discount but only if performance improves, even as it has resumed paying severance to some former employees.to turn around its business after taking on too much debt.
Bed Bath & Beyond is closing hundreds of stores and on Thursday, announced plans to sell up to $300 million of stock.The company has warned that bankruptcy was possible if its turnaround fails.
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Bed Bath & Beyond is sued by ousted CEO over unpaid severanceBed Bath & Beyond Inc was sued on Friday by Mark Tritton, who was ousted last June as chief executive of the troubled home goods retailer, in a complaint accusing the company of failing to honor his $6,765,000 severance agreement.
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Bed Bath & Beyond again warns of bankruptcy if new stock offering doesn't pay offBeleaguered retailer Bed Bath & Beyond is offering $300 million in stock in a last ditch effort as it warns of bankruptcy, again.
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Bed Bath & Beyond plans to sell $300 mln in stock, warns again of bankruptcyBed Bath & Beyond Inc on Thursday announced plans to sell $300 million worth of its shares as the struggling retailer looks to raise more capital, and once again warned it might have to file for bankruptcy if it cannot secure the funds.
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Bed Bath & Beyond stock sinks toward record low after sales warning, large equity offeringShares of Bed Bath & Beyond sank toward a record low Thursday, after $BBBY warned of a big sales miss and launched a relatively large “at-the-market” offering of common stock.
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Stocks making the biggest moves midday: Bed Bath & Beyond, EVgo, UBS and moreThese are the stocks posting the largest moves in midday trading.
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Bed Bath & Beyond warns again of filing for bankruptcy, to sell $300M in stockBed Bath & Beyond warned in a filing with the Securities and Exchange Commission that it will 'likely' file for bankruptcy if it's not able to secure funds from a stock offering.
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