HD Supply, Investors Want Initial OK of $50 Million Settlement

HD Supply Holdings Inc. reached a $50 million settlement with investors who accused the company of misleading them about supply chain problems, according to documents filed in Georgia federal district court.

The industrial distributor will hand over $50 million in cash to put the claims to rest without admitting wrongdoing, the investors told the U.S. District Court for the Northern District of Georgia in their Jan. 31 bid for preliminary approval of the settlement. Assuming all class members take part in the settlement, they’ll receive an estimated $0.75 per allegedly damaged share, the filings said.

The settlement amount represents between ...