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 Walmart. 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. 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 lgrant@grantfirm.com.
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Contacts:
Lynda J. Grant, 212-292-4441
lgrant@grantfirm.com
