“Bed Bath & Beyond employees sue over 401(k) plan losses”

“Employees of the former Bed Bath & Beyond on Thursday sued the committee that oversaw its 401(k) retirement plan, saying its “imprudence” caused them to suffer millions of dollars in losses after the home furnishings retailer filed for bankruptcy.

The proposed class action filed in Newark, New Jersey, federal court arose from Bed Bath & Beyond’s termination of the 401(k) plan on Aug. 1, a little over three months after the company sought Chapter 11 protection…”

https://finance.yahoo.com/news/bed-bath-beyond-employees-sue-213024492.html

This is yet another reason not to invest in 401k’s. If the company goes bankrupt you are out of luck.