The 3rd US Circuit Court of Appeals ruled in April 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, according to the Washington Times.
The ruling in favor of the Arkansas-based retailer reverses a November district court ruling 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.
