The New York City Police Department has identified Gustavo Arnal as the man who jumped to his death from a high-rise apartment in Manhattan. According to a law enforcement source, Arnal is the chief financial officer of Bed Bath & Beyond.
He died after reportedly jumping from the 18th floor balcony of his high-rise apartment.
According to the NYPD, Arnal, 52, was discovered unconscious and unresponsive outside his luxury 57-story skyscraper in the Tribeca neighborhood around 12:30 p.m. Friday.
According to police, the man “appeared to be suffering from injuries consistent with a fall from an elevated position.” According to police, EMS arrived and pronounced the man dead.
Arnal’s wife watched him jump. According to the source, while no suicide note was discovered, no criminality is suspected.
Gustavo was the target of a class-action lawsuit filed last month alleging that he and GameStop Chairman Ryan Cohen, the company’s majority shareholder, artificially inflated its value in a “pump and dump” scheme.
According to the lawsuit, Cohen contacted Gustavo about his intention to acquire BBBY stock and take control of the company’s publicly traded shares.
BBBY stock rose from $4.38 per share on July 1, 2022, to $30 on August 17, 2022. According to the lawsuit, between March and August, Cohen, Gustavo, and J.P. Morgan Securities LLC — another defendant in the lawsuit — addressed their plan of hyping the stock and eventually departing their positions in BBBY shares.
According to MarketBeat.com, Arnal sold 42,513 shares of Bed Bath & Beyond stock on August 16 for more than $1,029,000. Arnal retained 267,896 shares in the company, valued at more than $6,488,000, following the transaction. BBBY was trading at around $8.63 at the close of the market on Friday.