NOTE: The Settlement Hearing took place on June 2, 2022 at 2:00pm via Zoom. The Settlement was fully and finally approved as fair, reasonable, and adequate. Please refer to the Order Approving Class-Action Settlement dated June 3, 2022 for additional information.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
Bed Bath & Beyond Inc. (“BBBY”) is a large retailer of household merchandise and home furnishings. BBBY’s common stock trades on the NASDAQ exchange under the symbol “BBBY.” Lead Plaintiff and additional named plaintiff Richard Lipka allege that Defendants made false and misleading statements to investors about BBBY’s plan to reduce its inventory going into the 2019 holiday season and about the Company’s inventory-management programs, practices, and software. Plaintiffs allege that the inventory-reduction program risked undercutting BBBY’s sales and profits, but that Defendants did not disclose those risks and then downplayed them as they started to materialize. Plaintiffs contend that BBBY’s stock price was inflated during the Class Period. Defendants deny those allegations.
The Court-appointed Lead Plaintiff, Kavin Bakhda, on behalf of himself and the Class, has reached a settlement of the Action for $7,000,000 in cash. The Settlement has been approved by the Court.
The Class consists of:
all persons or entities who purchased or otherwise acquired BBBY common stock during the period from September 4, 2019 through February 11, 2020, inclusive.
PLEASE READ THIS NOTICE CAREFULLY. This Notice explains important rights you may have, including the possible receipt of a payment from the Settlement. If you are a member of the Class, your legal rights will be affected whether or not you act.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-866-853-5009; emailing info@BedBathBeyondSecuritiesLitigation.com; or mailing a letter to:
Bed Bath & Beyond Securities Litigation
c/o JND Legal Administration
P.O. Box 91135
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.