Walmart to Pay $100M FTC Settlement as Andra AP Fonden Cuts Stake 25.6%
Walmart will pay $100 million to settle FTC and 11-state claims that it misled Spark Delivery drivers on base pay, incentive pay and tip distribution. Swedish pension fund Andra AP fonden sold 140,188 Walmart shares, reducing its stake by 25.6% to 408,000 shares.
1. Walmart Agrees to $100M FTC Settlement
Walmart will pay $100 million to resolve claims by the FTC and 11 states that its Spark Delivery network, launched in 2021, misled drivers on their base pay, incentive pay and guaranteed tips, addressing alleged violations of federal and state statutes.
2. Swedish Pension Fund Reduces Walmart Stake
In an SEC filing, Andra AP fonden disclosed it sold 140,188 Walmart shares during the third quarter, trimming its position by 25.6% and leaving it with 408,000 shares, reflecting a strategic portfolio adjustment.
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