Walmart beats key claim in US FTC lawsuit over money transfer fraud [Yahoo! Finance]
Walmart Inc. (WMT)
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Source: Yahoo! Finance
turning a blind eye to scam artists who used its money transfer services to fleece consumers out of hundreds of millions of dollars. In a decision on Wednesday, U.S. District Judge Manish Shah in Chicago rejected a claim that Walmart owes monetary damages for violating the federal Telemarketing Sales Rule. The rule prohibits deceptive and unfair acts in telemarketing, and bans money transfers to pay for goods and services offered through telemarketing. Shah said the FTC didn't offer enough specifics on how the world's largest retailer and its allegedly ill-trained employees saw or consciously ignored warning signs that fraudsters used its money transfer services to break the law. The judge had dismissed the Telemarketing Sales Rule claim in March 2023, leading the FTC to amend its complaint with new details. Wednesday's dismissal was with prejudice, meaning the FTC cannot pursue the claim again. Shah said the regulator can still seek an injunction to against violations of an
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WMT
Earnings
- 8/15/24 - Beat
WMT
Sec Filings
- 10/3/24 - Form 4
- 10/2/24 - Form 4
- 10/2/24 - Form 4
- WMT's page on the SEC website