Shareholders Speak Out on Walmart Scandal
Controversy is certainly nothing new for Wal-Mart — a simple Google search found a dozen or so active petitions started this year against the Bentonville behemoth.
The most recent and active petition doesn’t oppose a new store or some product offering, but instead calls to End the Corruption and Cover-Up recently alleged by the retail giant’s Mexican subsidiary.
Wal-Mart is alleged to have paid out $24 million in bribes to Mexican officials to boost the rate at which new stores were opened, which violates the Foreign Corruption Practices Act.
Venanzi Luna, a Walmart employee in southern California, is behind the latest petition. Luna says she’s worked for Walmart for seven years and is a company shareholder.
“I am angry that top Walmart executives are reported to have bribed public officials in Mexico and then tried to cover up the scandal. For years my coworkers and I have been saying that this company has lost its way. We didn’t know it had gotten this bad,” Luna noted in an email interview. Click here to read the full story from our partners at TheCityWire.com.