Walmart, Inc. shareholders and the Company have agreed to a $123 million monetary settlement and corporate governance reforms in connection with the Company's prescription opioid business.

The settlement, pending court approval, will end the dispute alleging that certain Walmart officers and directors breached their fiduciary duties for failures of oversight in connection with Walmart’s distribution and dispensation of opioid medications and alleged violations of the Controlled Substances Act (CSA), which exacerbated the United States opioid epidemic and resulted in billions of dollars of liabilities for the Company.  Following a Section 220 demand and thorough investigation, Plaintiffs filed a stockholder derivative suit on September 27, 2021.  On February 22, 2022, Plaintiffs filed an amended complaint asserting claims for breach of fiduciary duty pertaining to Walmart’s distribution and dispensation of opioid medications and alleged violations of the CSA against Defendants Flynn, Harris, Horton, Jorgensen, Mayer, McMillon, Penner, Reinemund, R. Walton, and S. Walton in their capacities as current or former Walmart directors or officers.  On April 26, 2023, the Court issued an order denying Defendants’ motion to dismiss in large part and denied Defendants’ motion to stay the action.