Wal-Mart should face lawsuit over alleged Mexico bribery -U.S. judge

[Judi Lynn]

Source: Reuters

Wal-Mart should face lawsuit over alleged Mexico bribery -U.S. judge
Source: Reuters - Fri, 9 May 2014 04:28 PM
By Jonathan Stempel

May 9 (Reuters) - Wal-Mart Stores Inc should face a U.S. lawsuit accusing it of defrauding shareholders by concealing suspected corruption at its Mexico operations, after learning that a damaging media report detailing alleged bribery was being prepared, a federal judge said.

U.S. Magistrate Judge Erin Setser in Fayetteville, Arkansas, on Thursday recommended denying Wal-Mart's request to dismiss the lawsuit led by a Michigan pension fund against the world's largest retailer and former Chief Executive Officer Mike Duke.

A Wal-Mart spokesman said the company disagrees with Setser's recommendation, which is subject to review by U.S. District Judge Susan Hickey. District judges are not bound by magistrate judges' recommendations but often follow them.

~snip~

Plaintiffs, led by the City of Pontiac General Employees' Retirement System, alleged that Duke and other Wal-Mart officials knew as early as 2005 that the Walmart de Mexico unit might have been bribing local officials to open stores faster, but did not probe the matter adequately in 2005 and 2006.


Read more: http://www.trust.org/item/20140509145315-bm40k/?source=jtOtherNews1

[dotymed]

1. Seriously? The largest sweatshop in the world.

They have no rules. They don't need your steenking rules. SHOW THEM THE MONEY.
That IS todays 3rd world America. Brought to you by money and the politicians it buys.