On December 22, 2020, the U.S. Department of Justice (“DOJ”) announced in a release that it has filed a lawsuit regarding Walmart’s role in the opioid epidemic. The DOJ press release stated that “as the operator of its pharmacies, Walmart knowingly filled thousands of controlled substance prescriptions that were not issued for legitimate medical purposes or in the usual course of medical practice, and that it filled prescriptions outside the ordinary course of pharmacy practice.”
The DOJ’s press release further stated that “Walmart received hundreds of thousands of suspicious orders that it failed to report as required to by the [Drug Enforcement Administration].”
Walmart’s stock price declined over the next two trading days. A class-action lawsuit was commenced on January 20, 2021, in the District of Delaware and is captioned Stanton v. Walmart Inc., No. 21-cv-00055.
Estimating economic damages in class action litigation involving common stock is necessary because it is generally impossible to actually measure the damages sustained by each and every investor who purchased and/or sold the firm’s common stock during the Class Period.
Our Economists have a teaching background in finance and economics. We have offices in Los Angeles, we work with firms that have obtained many of the largest recoveries in history. Forensic Economic Services’ Economist can assist with economic analysis in securities class action litigation.