NEW YORK, Aug 26 (Reuters) – The U.S. Securities and Exchange Commission (SEC) is investigating GameStop Corp (GME.N) Chairman Ryan Cohen’s sale of Bed Bath & Beyond Inc (BBBY.O) shares in August, the Wall Street Journal reported on Friday, citing people familiar with the matter..
Cohen, who is also a major shareholder in Bed Bath & Beyond, sold his entire stake in the home goods retailer on Aug. 17, just days after the company announced a deal to sell shares to raise $1 billion..
The SEC is looking into whether Cohen violated insider trading rules by selling his shares so soon after the deal was announced, the Journal said..
Cohen, who has been a vocal critic of Bed Bath & Beyond’s management, has denied any wrongdoing..
