L Brands Inks $90M Global Deal For 'Toxic' Workplace Suits
By Jeff Montgomery (July 30, 2021, 4:48 PM EDT) -- Multichain specialty retailer L Brands announced a $90 million corporate governance reform agreement Friday to settle multiple derivative lawsuits seeking damages arising from "toxic" workplace conditions, including sexual harassment.
The global business, owner of Victoria's Secret, Bath & Body Works and Pink, said the settlement would fund governance reform efforts over five years. Formal settlement proceedings will be managed through a pending case in Ohio, but will settle derivative actions in that state, Delaware, Oregon and elsewhere.
Included in the deal is an additional $21 million for attorney fees and expenses, according to the announcement.
Victoria's Secret in particular has been...
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