SAN DIEGO, March 21, 2023 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in shares of Walmart Inc. (NYSE: WMT).
Investors, who purchased Walmart Inc. (NYSE: WMT) shares prior to March 2016 and continue to hold any of those NYSE: WMT shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On January 20, 2021, a lawsuit was filed shares against Walmart Inc over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that the Company knowingly filled prescriptions that were issued by so-called “pill-mill” prescribers, that the Company filled thousands of prescriptions that showed obvious red flags, including highly-dangerous cocktails of drugs, that the Company’s managers made it difficult for Walmart pharmacists to comply with their legal obligations by pressuring them to fulfill as many orders as possible, that hence, the Company’s pharmacy revenues were inflated because the Company filled thousands of invalid prescriptions in violation of the Controlled Substance Act dispensing requirements, that the aforementioned conduct would subject the Company to regulatory scrutiny, and that as a result, Defendants’ statements about Walmart’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 12, 2021, an amended complaint was filed and on October 8, 2021, the Defendants filed a Motion to Dismiss the amended Complaint.
On October 14, a second amended Complaint was filed.
Those who NYSE: WMT shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
