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Case Status:    ONGOING    
On or around 08/28/2023 (Date of last review)

Filing Date: January 20, 2021

According to the Complaint, Walmart Inc. engages in retail and wholesale operations in various formats worldwide. The Company operates in three segments: Walmart U.S., Walmart International, and Sam's Club. It operates supercenters, supermarkets, hypermarkets, warehouse clubs, cash and carry stores, discount stores, drugstores, and convenience stores; membership-only warehouse clubs; ecommerce websites, such as walmart.com, walmart.com.mx, asda.com, walmart.ca, flipkart.com, and samsclub.com; and mobile commerce applications. It operates approximately 11,500 stores and various e-commerce Websites under 56 banners in 27 countries.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company knowingly filled prescriptions that were issued by so-called “pill mill” prescribers; (2) the Company filled thousands of prescriptions that showed obvious red flags, including highly dangerous cocktails of drugs, (3) 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; (4) 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; (5) the aforementioned conduct would subject the Company to regulatory scrutiny; and 6) 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 May 11, 2021, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 12. Defendants filed a Motion to Dismiss the amended Complaint on October 8.

On September 14, 2022, Plaintiffs informed the Court of their intent to file an amended Complaint and the Court denied Defendants' Motion to Dismiss as moot. On October 14, Lead Plaintiff filed a second amended Complaint. Lead Plaintiff filed a revised second amended Complaint on May 2, 2023.

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