Meme-stock hero Ryan Cohen faces Bed Bath & Beyond shareholder lawsuit over emoji-fueled rally

• Meme stock investor Ryan Cohen will have to face a lawsuit from Bed Bath & Beyond shareholders.
• Investors claimed Cohen’s use of the smiling moon emoji constituted securities fraud.
• Emojis are just as actionable as words, a federal judge said in a ruling last week.

Ryan Cohen will have to face a securities fraud lawsuit from Bed Bath & Beyond shareholders, as the meme-stock hero’s use of a single emoji could hold him liable for securities fraud, a federal judge ruled last week.

Shareholders filed a suit against Cohen after the Gamestop executive chairman sold his shares of Bed Bath & Beyond during a rally for the meme stock last year, bagging a $68 million profit before the stock price tanked again.