(Derek Draplin) – Colorado and Nevada both reached multi-million dollar settlement agreements with Walmart for allegedly overcharging customers for products, the attorneys general in each state announced on Thursday.
Colorado’s settlement is $3 million, which will go towards funding food pantries and low-income food programs, according to Attorney General Phil Weiser’s office. Nevada will receive $2 million from Walmart for violating the Nevada Deceptive Trade Practices Act.
The settlement stems from Walmart stores allegedly updating product prices at the point of sale but not on store shelves. Stores in Colorado failed nine inspections and stores in Northern Nevada failed four inspections, according to the attorneys general.
“After receiving several consumer complaints about Walmart stores in Northern Nevada, our consumer protection team took action,” Nevada Attorney General Aaron Ford said in a statement. “Companies must ensure that a product’s shelf price is the same as the register price. This ensures transparency and enables consumers to make informed decisions on which products to purchase.”
Weiser said the settlement “provides consumers with reassurance that they’re paying the price they expect when they shop at Walmart and other stores.”
“It’s also important that the money from the settlement will benefit Coloradans who are struggling economically – the same Coloradans who were most affected by Walmart’s inaccurate pricing,” he added.
As part of the settlement, Walmart agreed to additional employee training and more frequent price inspections, among other measures.