[March 19, 2018] |
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New York Metro Superlawyer Lynda J. Grant Investigates Walmart for Securities Fraud
Lynda J. Grant, an attorney with over 30 years of experience
representing wronged shareholders and consumers and a New York Metro
Superlawyer, announces that TheGrantLawFirm, PLLC is investigating
potential breaches of fiduciary duties and/or federal securities claims
arising from allegations contained in a recent whistleblower complaint
filed against Walmart Inc. (NYSE: WMT) ("Walmart" or the "Company").
On March 15, 2018, Tri Huynh ("Huynh"), a former ecommerce executive
with Walmart, filed a whistleblower complaint in the United States
District Court for the Northern District of California, captioned Huynh
v. Wal-Mart Stores, Inc. et al., 18-cv-01631, against almart. In
that complaint, he accuses Walmart of having inflated certain metrics
relating to its ecommerce growth since at least as early as 2016,
thereby misrepresenting its financial success and its success in
competing with ecommerce giant, Amazon.com (News - Alert). Huynh alleges that Walmart
committed securities fraud and mail and wire fraud, among other things,
and that he was terminated when he reported such activities to the
Company's worldwide Global Ethics Office.
TheGrantLawFirm is presently investigating whether Walmart's directors
and officers breached their fiduciary duties in allowing such activity
and/or committed fraud in violation of federal securities laws. If you
are a shareholder of Walmart and would like additional information
regarding this matter, please contact Lynda J. Grant at 212-292-4441 or [email protected].
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180319005251/en/
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