Walmart, Investors Quizzed in Appeal Over US Opioid Probes (1)

Walmart Inc. investors’ appeal in a securities case about potential opioid-related liabilities prompted tough questions for both sides at oral argument Thursday at the Third Circuit.

“We’re testing your complaint,” Judge Marjorie O. Rendell told an attorney for the investors at the US Court of Appeals for the Third Circuit.

But Rendell and Chief Judge Michael A. Chagares sought answers from Walmart beyond its theory that an accounting standard neatly wrapped the case up in its favor.

The investors are seeking to revive their misrepresentation suit, which the US District Court for the District of Delaware dismissed in April 2024 ...