GameStop CEO Ryan Cohen loses bid to toss lawsuit accusing him of raking in $47M in profit from Bed Bath & Beyond stake sale

Ryan Cohen, the billionaire chief executive of GameStop, must face a lawsuit by the company once known as Bed Bath & Beyond to recoup $47.2 million of profit from trading its stock before the home goods retailer went bankrupt.US District Judge Naomi Reice Buchwald in Manhattan on Friday said Cohen and his RC Ventures must defend against a claim they bought and sold a more than 10% Bed Bath stake within six months, making them liable as insiders to repay “short-swing” profits.Cohen claimed he did not know hi ...