Sponsored by Hertz Lithium

BBBY gets delisted

Bed Bath & Beyond (OTC: BBBYQ) is officially ceasing trade on public markets. The halt follows the company filing for bankruptcy on April 23 via a Chapter 11 filing in New Jersey.

The company, who officially made the filing as “20230930-DK-Butterfly-1, Inc.”, late on Friday made a filing with the Securities and Exchange Commission indicating that as a result of confirmed bankruptcy plan made with the U.S. Bankruptcy Court for the District of New Jersey becoming effective, all of the company’s equity interests have been cancelled. Such equity interests include outstanding shares of common stock and Series A convertible preferred stock of the company.

Furthermore, no shares of the company will be reserved for future issuance in respect of claims and interests filed under the bankruptcy plan.

You can read more on the matter here.

What’s going on?

• A Wells Fargo Executive Jumped to His Death from a Window of the Wilmington Office in January (theDeepDive)

• After Calling His Judge “Deranged”, Trump Now Wants The Jury Trial His Lawyers Did Not Request (theDeepDive)

• UPS and FedEx customers regain upper hand in delivery price battle (Reuters)

• Sweden Pension Fund Sees Chair Step Down After Major Losses (theDeepDive)

• Court tosses $223.8 million verdict against J&J in talc cancer case (Reuters)

• Employers In New York Will No Longer Be Able To Demand Access to Personal Social Media Accounts . . . Because Apparently, They Could? (theDeepDive)

• Parents of Michigan teen school shooter to face trial (Reuters)

• Sam Bankman-Fried Wanted To Pay Trump $5 Billion Not To Run For President Again (theDeepDive)

What’s the latest?

• India-Canada Relations Deteriorate: Canada's diplomatic relations with India are facing challenges as the two countries engage in a diplomatic dispute. Canada has been asked by India to repatriate 41 of its diplomats by October 10, with the threat of revoking diplomatic immunity for those who remain.

• Meta Offers Ad-Free Option: Meta Platforms, the parent company of Facebook and Instagram, is reportedly considering introducing ad-free subscription plans for users in Europe. The move is seen as an effort to comply with European Union regulations that aim to limit personalized ads without user consent. The proposed subscription plan may cost around 10 euros per month and could be implemented in the coming months.

• FTX Court Case: Sam Bankman-Fried has entered into a trial facing seven counts of fraud and conspiracy charges. U.S. prosecutors allege that Bankman-Fried embezzled funds from FTX customers to support his hedge fund Alameda Research, purchase luxury properties, and donate over $100 million to U.S. political candidates. Bankman-Fried has pleaded not guilty to these charges..

• Russian Grinder: Russia has reportedly deployed penal units known as "Storm-Z" squads to the frontlines in Ukraine, consisting of military and civilian offenders, including insubordinate soldiers and convicts. These squads, comprising about 100-150 fighters each, are embedded within regular army units and often sent to the most exposed and dangerous parts of the front. The fighters within these squads are considered expendable infantry and often sustain heavy losses.

• US Job Openings Jump: In August, U.S. job openings unexpectedly surged to 9.61 million, representing an increase of nearly 700,000 from July and surpassing the Dow Jones estimate of 8.8 million. Despite this, hiring only saw a modest rise, with 5.857 million new hires, an increase of just 35,000.

Atha Energy: The largest position in the Athabasca Basin

The stock market and stuff

• Rivian Reports Positive Production and Delivery Figures In Third Quarter (theDeepDive)

• Netflix plans to raise prices after actors' strike ends - WSJ (Reuters)

• Sam Bankman-Fried Wanted To Pay Trump $5 Billion Not To Run For President Again (theDeepDive)

In the juniors

• Hertz Lithium To Acquire James Bay Quebec-Based Canuck Lithium (theDeepDive)

• DiagnaMed Opens Enrollment For Healthcare Provider Network For Brain Health Platform (theDeepDive)

• TNR Gold Objects To $0.08 Per Share Takeout Offer From Lithium Royalty Corp (theDeepDive)

• Neighbourly Pharmacy Receives Go-Private Offer At $20.50 Per Share (theDeepDive)

FULL DISCLOSURE: Hertz Lithium is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Hertz Lithium. The author has been compensated to cover Hertz Lithium on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.