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Mexico

Wal-Mart Shareholder Suit Over Bribery Allegations Dismissed

A U.S. judge dismissed a lawsuit by Wal-Mart shareholders in Delaware

A Wal-Mart in Laredo, Texas, photo: commons.wikimedia/Jared C. Benedict
2 years ago

DOVER, Delaware — A judge has dismissed a shareholder lawsuit over alleged bribery involving Wal-Mart’s operations in Mexico.

The judge ruled Friday that a shareholder lawsuit in Delaware must be dismissed because an Arkansas judge had previously dismissed a similar complaint. Chancellor Andre Bouchard said the Arkansas ruling precluded shareholders from pursuing the Delaware lawsuit.

The lawsuits were prompted by allegations that Wal-Mart’s Mexican unit paid millions of dollars in bribes to speed building permits and gain other favors. The allegations spurred federal investigations in the U.S. and Mexico, and a global anti-corruption compliance review by Wal-Mart.

The Arkansas judge said plaintiffs failed to show it would have been futile to demand that Wal-Mart’s board address the alleged misconduct before they sued.

RANDALL CHASE

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