Bed Bath & Beyond Workers Cleared for $1.95 Million 401(k) Deal

Bed Bath & Beyond Inc.'s 401(k) committee finalized a $1.95 million class settlement with workers who said the plan was mismanaged in the wake of the retailer’s bankruptcy.

The deal represents about 30% of the plan’s alleged losses and is expected to benefit about 2,100 people who experienced adjustments to their 401(k) account balances in connection with the plan’s 2023 termination. Judge Claire C. Cecchi granted final approval to the deal and awarded class counsel $650,000 in attorneys’ fees in a pair of orders issued Thursday in the US District Court for the District of New Jersey.

• The lawsuit centered ...