A federal judge in Chicago has dismissed a proposed class action lawsuit accusing Walmart Inc of deceiving shoppers by selling Fudge Mint cookies that lacked fudge and mint. Eugene DeMaso, of La Salle, Illinois, said packaging for the cookies sold under Walmart's Great Value label misled reasonable consumers because the cookies' "fudge" contained no milkfat and its "mint" contained no mint ingredients. In a decision on Tuesday, U.S. District Judge Mary Rowland said no cases showed that consumers expect "fudge" to contain milkfat, and DeMaso undercut his argument by asserting that fudge could contain vegetable oils, as Walmart's cookies did.
In the latest trading session, Walmart (WMT) closed at $140.68, marking a -0.73% move from the previous day.
The average brokerage recommendation (ABR) for Walmart (WMT) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?