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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Walmart Inc. - WMT
WMTWalmart(WMT) Prnewswire·2024-12-27 21:15

Walmart and Branch Lawsuit - The CFPB alleges that Walmart and Branch opened accounts for Spark Drivers without their consent and deposited their pay into these accounts [1] - Walmart reportedly told Spark Drivers that using Branch accounts was mandatory for payment and threatened termination for non-compliance [1] - Drivers faced a complex process to access their funds, with delays and fees exceeding 10millionwhentransferringearningstotheirpreferredaccounts[2]−Walmart′sstockpriceexperiencedasharpdeclineduringintradaytradingonDecember23,2024,followingthelawsuitannouncement[2]PomerantzLLPInvestigation−PomerantzLLPisinvestigatingpotentialsecuritiesfraudorunlawfulbusinesspracticesbyWalmartanditsofficers/directors[5]−TheinvestigationfocusesonclaimsrelatedtoWalmart′sallegedmisconductinhandlingSparkDrivers′payments[4][6]EnovixCFODeparture−EnovixannouncedthedepartureofCFOFarhanAhmadonDecember16,2024,andissearchingforanewCFO[7]−Followingthisannouncement,Enovix′sstockpricefellby10 million when transferring earnings to their preferred accounts [2] - Walmart's stock price experienced a sharp decline during intraday trading on December 23, 2024, following the lawsuit announcement [2] Pomerantz LLP Investigation - Pomerantz LLP is investigating potential securities fraud or unlawful business practices by Walmart and its officers/directors [5] - The investigation focuses on claims related to Walmart's alleged misconduct in handling Spark Drivers' payments [4][6] Enovix CFO Departure - Enovix announced the departure of CFO Farhan Ahmad on December 16, 2024, and is searching for a new CFO [7] - Following this announcement, Enovix's stock price fell by 0 56 per share, or 6 24%, closing at $8 42 per share on December 16, 2024 [7]