According to the Complaint, Bed Bath & Beyond Inc. is a retailer that sells a wide variety of domestics merchandise and home furnishings. It operates under many brand names including Christmas Tree Shops, Harmon, buybuy BABY, and Cost Plus World Market.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose: (1) that, due to “aggressive disposition of inventory,” the Company lacked sufficient inventory in key categories to support holiday sales; (2) that the Company’s internal control over inventory levels and financial reporting was not effective; (3) that, as a result of the foregoing, the Company was likely to experience reduced sales; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 14, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 20-CV-04240. Lead Plaintiff filed an amended Complaint on October 20.

On October 25, 2021, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on February 4, 2022. On June 2, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On December 14, 2022, the Court issued an Order approving distribution of the net Settlement fund.