Bed Bath & Beyond Panel Strikes Deal Over Alleged 401(k) Losses

Bed Bath & Beyond Inc.'s 401(k) committee will settle a proposed class action by former workers who say they lost out on retirement savings because the retailer mishandled their plan in the wake of its bankruptcy filing.

The parties struck a deal after a mediation session and plan to submit the agreement for court approval by the end of next month, they said in a joint status report. The report, filed Monday in the US District Court for the District of New Jersey, didn’t include details about the proposed settlement.

The lawsuit centers on a MassMutual guaranteed interest account ...