Chewy settles derivative lawsuit for $29.5M; court sets June 23 hearing for approval

Chewy, Inc.

Settlement agreement reached April 6, 2026, resolving derivative claims over the 2023 Downstream Merger.
Defendants pay $29.5 million cash to Chewy; no admission of wrongdoing.
Court schedules settlement hearing for June 23, 2026.
Special Litigation Committee concluded settlement is in Chewy's best interests after independent investigation.
The Action challenged BC Partners' controlling stockholder actions and fiduciary duties.

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