Synchrony Investors’ Walmart Partnership Suit Gets Class Status

Investors in Synchrony Financial will proceed as a class in a suit over the private-label credit card provider’s alleged misrepresentations about the health of its partnership with Walmart Inc.

An equity fund serving as lead plaintiff and other Synchrony shareholders have shown that common issues predominate over individualized ones, Judge Victor A. Bolden said Feb. 3 for the US District Court for the District of Connecticut. And they’ve met the other requirements for class certification, he said.

In their request for class status in June 2022, the investors said courts have “long recognized” private securities fraud suits as “essential to ...