As many as 150,000 employees and retirees of the former Kmart Corp. would share $11.75 million in a proposed settlement of a lawsuit against ex-company officials over the investment of pension funds in Kmart’s now worthless stock.

The agreement involves those who participated in Kmart pensions from March 15, 1999, to March 6, 2003. Court documents say the people involved lost between $28 million and $300 million.