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LOS ANGELES, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Walmart, Inc. ("Walmart" or "the Company") (NYSE: WMT) investors that acquired securities between March 30, 2016 and December 22, 2020.
It is alleged in the complaint that Walmart made misleading and false statements to the market. Walmart knowingly filled improper prescriptions that were written by “pill-mill” prescribers. Thousands of these prescriptions filled by Walmart demonstrated obvious red flags such as harmful mixtures of medications. Walmart management pressured its pharmacists to fill as many of these prescriptions as possible, which made it difficult for them to comply with the law. Walmart’s pharmacy revenues were inflated artificially, as a result of filling invalid prescriptions in violation of the dispensing requirements of the Controlled Substance Act. Walmart’s public statements were materially misleading and false throughout the class period, based on these facts. Investors suffered damages when the market learned the truth about Walmart.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.