Walmart Suing Synchrony Financial For Breach Of Contract – Seeking $800 Million In Damages

In July Walmart announced that they would be ending their co-branded credit card & store card partnership with Synchrony Financial and partnering with Capital One. Walmart has now filed suit against Synchrony Financial alleging breach of contract. Walmart is seeking damages for an amount to be proven at trial, but estimated to be no less than $800 million. Synchrony has stated that “the assertions are completely baseless and without merit, and we intend to vigorously defend our position.”

Hat tip to WSJ via DDG