Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Bed Bath & Beyond CFO Gustavo Arnal falls to death at New York's Jenga tower
Bed Bath & Beyond Inc's chief financial officer fell to his death from New York's Tribeca skyscraper known as the "Jenga" tower on Friday afternoon, police said, just days after a lawsuit alleged he was involved in a "pump and dump" scheme.
Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. He previously worked as CFO for cosmetics brand Avon in London and had a 20-year stint with Procter & Gamble, according to his LinkedIn profile.
On Friday at 12:30 p.m. ET police responded to a 911 call and found a 52-year-old man dead near the building who appeared to have suffered injuries from a fall. Police identified the man as Gustavo Arnal.
The police statement did not provide further details on the circumstances leading to Arnal's death and said the New York City Medical Examiner's Office would determine the cause of death. Bed Bath and Beyond confirmed his death in a press statement on Sunday but gave no details.
Arnal sold 55,013 shares in Bed Bath & Beyond in multiple transactions on Aug. 16-17, Reuters' calculations showed based on SEC filings. The sales amounted to about $1.4 million, and Arnal still had almost 255,400 shares remaining.
On Aug. 23, the company, Arnal and major shareholder Ryan Cohen were sued over accusations of artificially inflating the firm's stock price in a "pump and dump" scheme, with the lawsuit alleging Arnal sold off his shares at a higher price after the scheme.
The class action lawsuit listed Arnal as one of the defendants and was brought by a group of shareholders who claimed they lost around $1.2 billion.
The filing in the U.S. District Court for the District of Columbia alleged that Arnal "agreed to regulate all insider sales by BBBY's officers and directors to ensure that the market would not be inundated with a large number of BBBY shares at a given time."
The lawsuit also alleged that he also issued materially misleading statements to investors.
The company did not respond to a request for comment on the lawsuit.
The death of the CFO was reported earlier by the New York Post while the lawsuit was reported first by the Daily Mail.
The big-box chain - once considered a so-called "category killer" in home and bath goods - has seen its fortunes falter after an attempt to sell more of its own brand, or private-label goods.
Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.
Bed Bath & Beyond forecast a bigger-than-expected 26% slump in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale.
(Reporting by Kanishka Singh in Washington and Akriti Sharma in Bengaluru; Editing by Lisa Shumaker and Deepa Babington)
CTVNews.ca Top Stories
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
Following child's death in Ontario, here's what you need to know about rabies and bats
An Ontario child died last month after coming into contact with a rabid bat in their bedroom, which was the first known human rabies case in Canada since 2019.
A French judge in a shocking rape case allows the public to see some of the video evidence
A French judge in the trial of dozens of men accused of raping an unconscious woman whose now former husband had repeatedly drugged her so that he and others could assault her decided on Friday to allow the public to see some of the video recordings of the alleged rapes.
Former Colorado county clerk Tina Peters sentenced to 9 years for voting data scheme
A judge ripped into a Colorado county clerk for her crimes and lies before sentencing her Thursday to nine years behind bars for a data-breach scheme spawned from the rampant false claims about voting machine fraud in the 2020 presidential race.
Anne Hathaway confirms 'Princess Diaries 3': 'Miracles happen'
You might be thinking, 'Shut up!' but it鈥檚 officially true: the 'Princess Diaries' franchise is finally growing.
A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Local Spotlight
Chantal Kreviazuk is set to return to Winnipeg to mark a major milestone in her illustrious musical career.
From the beaches of Cannes to the bustling streets of New York City, a new film by a trio of Manitoba directors has toured the international film festival circuit to much pomp and circumstance.
A husband and wife have been on the road trip of a lifetime and have decided to stop in Saskatchewan for the winter.
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Moving into the second week of October, the eastern half of Canada can expect some brisker fall air to break down from the north
What does New Westminster's t蓹m蓹sew虛tx史 Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.