Wal-Mart stock is sinking fast following reports that, according to a new whistle-blower lawsuit, that in its desperate race to catch Amazon in online retailing, Wal-Mart issued misleading e-commerce results and fired an executive who complained the company was breaking the law.
Bloomberg reports that Tri Huynh, a former director of business development at Walmart, claims in a lawsuit filed in San Francisco Thursday that he was terminated “under false pretenses” after repeatedly raising concerns about the company’s “overly aggressive push to show meteoric growth in its e-commerce business by any means possible — even, illegitimate ones.”
Investors are not waiting for a response for now…
The question is – did Wal-Mart go full-Theranos in their ‘fake news’ results for online growth? Judging by the move after a few minutes… maybe yes?
via RSS http://ift.tt/2tPyddP Tyler Durden