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 proposed settlement of the Action for $7,000,000 in cash.
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.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN JUNE 6, 2022.
||This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Class Member and you remain in the Class, you will be bound by the Settlement as approved by the Court, and you will give up any Released Class Claims (defined in paragraph 21 of the notice) that you might have against Defendants and the other Releases (defined in paragraph 35 of the notice). So if you remain in the Class, it is in your interest to submit a Claim Form.
|EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION THAT IS RECEIVED NO LATER THAN MAY 5, 2022.
||You can exclude yourself from the Class. If you do so, you will not be eligible to receive any payment from the Settlement Fund. Submitting a timely and valid exclusion request is the only way ever to be part of any other lawsuit against any of the Defendants or the other Releases concerning the Released Class Claims.
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION THAT IS RECEIVED NO LATER THAN MAY 5, 2022.
||If you do not like the proposed Settlement, the proposed Plan of Allocation, the request for attorneys’ fees and expenses, or the proposed award to Lead Plaintiff, you may write to the Court and explain what you do not like. You cannot object to any of those matters unless you are a Class Member and do not exclude yourself from the Class.
|GO TO A HEARING ON JUNE 2, 2022 AT 2:00 P.M., (AND FILE) A NOTICE OF INTENTION TO APPEAR THAT IS RECEIVED NO LATER THAN MAY 5, 2022.
||If you file a written objection and notice of intention to appear by May 5, 2022, you may speak in Court, at the Court’s discretion, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses or the award to Lead Plaintiff. However, you do not need to attend the hearing and speak to the Court if you prefer to object only in writing. The Court may change the date of the Fairness Hearing and may also order the Hearing to be held by telephone or videoconference, in which case instructions about date, time, and how to participate will be posted on www.BedBathBeyondSecuritiesLitigation.com
||If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
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.