Bed Bath & Beyond Inc (fka BBBYQ)

[Prudent Capitalist]

Bingo! The docket entry regarding the frivolous claims of certain retail investors is very clear Janice, as is the ruling that there simply are no equity interests left here. As I stated yesterday, the APES and Meme Stock Clowns have never been able to comprehend actual facts or reality. The continuing and ever-growing ignorance and stupidity on the part of the APE Cult and Meme Stock Clowns never ceases to amaze.

In their Motion, Appellants argue they will be irreparably harmed if the Plan is not stayed because (a) if their Stock is cancelled before the Stock is turned over to the Debtors, Appellants will be “depriv[ed] of their rights to sell their shares at the considerably appreciated share that will eventually result from short sellers”; and (b) if estate assets are distributed pursuant to the Plan prior to the determination of the Appeal, their Appeal could be challenged as equitably moot. Motion ¶ 23, ECF No. 2622. As an initial matter, the alleged harm cited is purely economic and, therefore, is not the type of irreparable harm that can warrant a stay. Moreover, as the Plan Administrator points out, the Stock has already been cancelled and Debtors have no equity left to preserve. Thus, Appellants have no equity interests in Debtors and Appellants have failed to show that they will be irreparably injured if the stay is not granted.

See the conclusion:

The Court finds that Appellants’ arguments reflect either a fundamental misunderstanding of the chapter 11 process or a frivolous attempt to disrupt and delay the orderly resolution of this bankruptcy case. As discussed on the record, the Court is concerned that continued litigation will waste estate resources and the Court is willing to consider requests for sanctions for further motion practice. Having concluded that there is no basis in law or fact for the relief sought by the Appellants, it is hereby

ORDERED that the Motion is DENIED; and it is further

ORDERED that this Court retains jurisdiction with respect to all matters arising from or related to the implementation, interpretation, and enforcement of this Order.