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ONTARIO PROVINCIAL COUNCIL v. WALTON

C.A. No. 2021-0827-JTL.

294 A.3d 65 (2023)

ONTARIO PROVINCIAL COUNCIL OF CARPENTERS' PENSION TRUST FUND, Police & Fire Retirement System of the City of Detroit, and Norfolk County Retirement System, Derivatively on Behalf of Walmart Inc., Plaintiffs, v. S. Robson WALTON, Gregory B. Penner, Steuart Walton, Timothy P. Flynn, Thomas W. Horton, Marissa A. Mayer, Doug McMillon, Steven S. Reinemund, Phyllis Harris, and Jay Jorgensen, Defendants, and Walmart Inc., Nominal Defendant.

Court of Chancery of Delaware.

Date Decided: April 12, 2023.

Attorney(s) appearing for the Case

Gregory V. Varallo , Mae Oberste , & Daniel E. Meyer , BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, Wilmington, Delaware; Mark Lebovitch & Edward G. Timlin , BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, New York, New York; Leslie R. Stern , Nathaniel L. Orenstein , & Steven L. Groopman , BERMAN TABACCO, Boston, Massachusetts; Counsel for Police & Fire Retirement System of the City of Detroit and Norfolk County Retirement System.

Ned Weinberger & Mark Richardson , LABATON SUCHAROW LLP, Wilmington, Delaware; David MacIsaac , LABATON SUCHAROW LLP, New York, New York; Counsel for The Ontario Provincial Council of Carpenters' Pension Trust Fund.

Raymond J. DiCamillo & John M. O'Toole , RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware; Sean M. Berkowitz & Nicholas J. Siciliano , LATHAM & WATKINS LLP, New York, New York; Andrew W. Stern & Charlotte K. Newell , SIDLEY AUSTIN LLP, New York, New York; William M. Regan & Allison M. Wuertz , HOGAN LOVELLS US LLP, New York, New York; Frank R. Volpe , SIDLEY AUSTIN LLP, Washington, District of Columbia; Counsel for Defendants and Nominal Defendant.

OPINION ADDRESSING DEFENDANTS' MOTION TO DISMISS ON THE BASIS OF LACHES

Walmart Inc. operates over 5,000 pharmacies that dispense prescription opioids. Until April 2018, Walmart acted as a wholesale distributor of prescription opioids for its pharmacies. Walmart has incurred significant liabilities due to its involvement with...

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