Bed Bath & Beyond 401(k) Losses Suit Settles for $1.95 Million

Bed Bath & Beyond Inc.'s 401(k) committee agreed to pay $1.95 million to settle with workers who allegedly lost out on retirement savings because the retailer mishandled their plan in the wake of its bankruptcy, according to a Friday court filing.

The proposed deal would benefit about 2,100 people who experienced adjustments to their 401(k) account balances in connection with the plan’s termination in 2023. It represents about 30% of the alleged losses to the plan, which is a substantial recovery given the “novel claim” advanced by the lawsuit, according to a settlement motion filed in the US District Court ...