L Brands Says It Settled Lawsuit on Workplace Misconduct

L Brands Inc., which owns Victoria’s Secret and Bath & Body Works, said it agreed to a settlement that promises workplace reforms, including a $90 million investment in diversity, equity and inclusion initiatives. The company will also form an advisory council that oversees these topics.

The company agreed to “a suite of corporate governance and management measures” which include strengthening policies against sexual harassment and hiring a consultant. Victoria’s Secret and Bath & Body Works will each invest $45 million over at least five years to fund the changes, L Brands said in an emailed statement.