Bed Bath & Beyond Adds New Directors To Halt Proxy Fight

Law360 (May 30, 2019, 8:10 PM EDT) -- Bed Bath & Beyond avoided a looming proxy fight over its board with a trio of activists by agreeing to appoint four new independent directors, a move that comes after the conflict erupted in litigation earlier this month.

New Jersey-based Bed Bath & Beyond Inc. said Wednesday it had settled with an investor group made up of Legion Partners Holdings LLC, Macellum Advisors GP and Ancora Advisors.

The agreement will see Bed Bath & Beyond add four independent directors backed by the investor group: John E. Fleming, Sue E. Gove, Jeffrey A. Kirwan and Joshua E. Schechter. With the new additions,...

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