A Delaware judge scolded attorneys for two large public employee retirement systems on Monday for rushing to court with lawsuits over allegations of bribery involving Wal-Mart Stores’ operations in Mexico.
Chancellor Leo Strine Jr. denied competing motions from the California State Teachers Retirement System, or CalSTRS, and a group of New York City pension funds seeking appointments as lead plaintiff with lead counsel in a consolidated shareholder lawsuit alleging that Wal-Mart officials breached their fiduciary duties by allowing and covering up the alleged bribery.
‘Enforcement 40’ for 2020
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