Bed Bath & Beyond proposes reverse stock split to avoid bankruptcy and calls for shareholder meeting.
Bed Bath & Beyond has called for a shareholder meeting on May 9 to vote on a potential amendment that would allow the board to execute a reverse stock split at a ratio of 1-for-10 to 1-for-20. The struggling retailer had previously called for a meeting to approve a reverse stock split at a ratio of 1-for-5 to 1-for-10. Shares were up 1.9% after hours.