We are investigating Walmart Inc. (WMT) (“Walmart” or the “Company”) for potential violations of the federal securities laws.
On April 29, 2020, multiple media outlets reported on the filing of a class action lawsuit against Walmart, along with other food retailers, accusing them of illegally inflating the price of eggs sold in California amid skyrocketing demand due to the COVID-19 pandemic. Following reports of the lawsuit, Walmart’s stock price fell $4.40 per share, or 3.44%, to close at $123.60 per share on April 29, 2020.