Wal-Mart Stores Inc must face a class-action lawsuit accusing the world’s largest retailer of defrauding shareholders by concealing suspected bribery to help it expand faster in Mexico, a U.S. judge said.
In a decision on Tuesday, U.S. District Judge Susan Hickey in Fayetteville, Arkansas rejected Wal-Mart’s contention that a Michigan pension fund had no standing to lead the case because it had not suffered losses on the retailer’s stock.
via Wal-Mart must face US class action over alleged Mexican bribery – Reuters
