Walmart Investors Lose Appeal to Revive Opioid Probe Suit (1)

Walmart Inc. investors won’t get to pursue claims the retailer misled them when it was under investigation for contributing to a nationwide opioid crisis, after a Third Circuit ruling Friday.

The retailer’s statements in its Securities and Exchange Commission filings weren’t misleading and its disclosures as the probe progressed were sufficient, the US Court of Appeal for the Third Circuit said.

The panel’s decision affirmed an April 2024 dismissal by the US District Court for the District of Delaware.

The investors alleged Walmart failed to sufficiently disclose US government criminal and civil investigations in certain annual and quarterly filings. ...