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15 Feb ’12
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If they aren't trying to stop the sale then what is their reasoning for the suit?
Walmart's right to sell firearms and ammunition is being threatened by a lawsuit.
Fox Business Network reporter Adam Shapiro reported on "Fox and Friends First" this morning that a court decision could stop the retail giant from selling guns, which could change the way publicly traded companies do business in the United States.
Shapiro said that Trinity Wall Street Church in New York City owns stock in Walmart.
"The church sued the Walmart when they refused to place a proposal on the shareholder ballot at the annual company meeting," he explained. "That proposal could be interpreted to force Walmart's board of directors to suspend the sale of guns and ammunition."
Shapiro said that the church won the lawsuit and Walmart appealed. The decision on the appeal is due as early as today, he said.
"People who support gun rights say, the first court ruling allows political activists to push whatever agenda they wish at the corporate level, instead of through state and federal law," he said. "Trinity Wall Street Church says it does not intend to end the sale of products at Walmart."
15 Feb ’12
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nice
An appeals court ruled Tuesday that Wal-Mart investors don’t have a right to try to stop the company from selling rifles or any other product those shareholders may think is socially destructive.
The 3rd U.S. Circuit Court of Appeals ruled for the Arkansas-based retailer, reversing a district court ruling in November that would have let the company’s investors influence the store’s policy on high-capacity sporting-rifle sales.
“The Third Circuit reached the right decision in reversing the district court’s ruling,” Wal-Mart spokesman Randy Hargrove told the Times. “We appreciate the court’s quick consideration of the issues.”
The court’s decision came exactly one week after a panel of three judges heard oral arguments in the case between the nation’s largest retailer and Trinity Wall Street church, which hold 3,500 shares in the company.
Trinity won the case in district court, arguing that investors should be able to vote on a resolution that would force Wal-Mart’s board of directors to reconsider its policy on gun sales, as well as other items that might offend the community.
Wal-Mart appealed, arguing that the decision would allow shareholders to meddle in ordinary business operations.
The court has not yet released its full opinion on the decision but announced that it had ruled against Trinity, according to The Legal Intelligencer.
Read more: http://www.washingto.....z3XQYx3Ppg
15 Feb ’12
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looks like they are stopping sales of scary black guns
15 Feb ’12
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oh it is just a business decision due to lack of sales
15 Feb ’12
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no wait, they want to be a hunting store according to the ceo
"Our focus in terms of firearms should be hunters and people who shoot sporting clays, and things like that," said McMillon in June. "So the types of rifles we sell, the types of ammunition we sell, should be curated for those things."
When asked at the time if he would curtail sales of semiautomatic guns, McMillon said "yes."
"We want to serve people who hunt and fish and we want to have a great sporting goods department," he said.
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