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Synchrony Investors Seek Class Status in Walmart Split Lawsuit

June 27, 2022, 3:29 PM

Synchrony Financial investors who say the company misled them about credit changes that led to the loss of a Walmart Inc. partnership asked a federal judge in Connecticut for permission to pursue their securities suit as a class.

This is the type of private securities action that courts have “long recognized” as “essential to the enforcement of the securities laws and ideally suited for class certification,” the private label credit card maker’s investors said in a memo filed in support of a certification motion at the US District Court for the District of Connecticut.

Investors accuse Syncrhony of materially misleading ...