Walmart Inc. Class Action Lawsuit - WMT

The filed complaint alleges that Walmart Inc. made materially false and/or misleading statements and/or failed to disclose that: The Consumer Financial Protection Bureau ("CFPB") announced on December 23, 2024, that it had filed a lawsuit against Walmart and Branch Messenger for forcing delivery drivers to use costly deposit accounts to get paid and for deceiving workers-"last mile" drivers in Walmart's Spark Driver program-about how they could access their earnings. The CFPB's lawsuit alleges that Walmart and Branch opened Branch accounts for Spark Drivers, and Walmart then deposited drivers' pay into these accounts, without the drivers' consent. According to the CFPB, Walmart told Spark Drivers that they were required to use Branch to get paid and that they would terminate workers who did not want to use these accounts. Further, Walmart and Branch also misled workers about the availability of same-day access to their earnings. In addition, in a press release announcing the lawsuit, the CFPB stated that "[d]rivers had to follow a complex process to access their funds, and when they finally did, they faced further delays or fees if they needed to transfer the money they earned into an account of their choice. This resulted in workers paying more than $10 million in fees to transfer their earnings to an account of their choice." Following this news, Walmart's stock price fell sharply during intraday trading on the same day.

In order to be eligible to join the WMT class action lawsuit, you must have incurred a loss on shares of Walmart Inc. purchased during the class period listed above.