11:44 AM EDT, 06/21/2024 (MT Newswires) -- (Updates with additional details in the third paragraph.)

US District Court for the Southern District of New York Judge Katherine Polk Failla on Thursday dismissed all claims in a lawsuit between Capital One Financial ( COF ) and Walmart ( WMT ) over the companies' credit card partnership.

In 2018, Walmart ( WMT ) and Capital One entered into a contract for the latter to issue Walmart ( WMT )-branded credit cards in the US. In its lawsuit, originally filed in April 2023, Walmart ( WMT ) claimed that Capital One failed to meet several service requirements, which gave Walmart ( WMT ) the right to terminate the contract. Capital One, however, denied Walmart's ( WMT ) right to terminate the contract, leading Walmart ( WMT ) to pursue legal action.

Both the companies have resolved all claims in the suit and the "case is dismissed with prejudice," according to a court document filed Thursday.

Walmart ( WMT ) and Capital One did not immediately respond to MT Newswires' requests for comment.

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