On simply a price-per-share basis, it may be difficult for lawyers and pension fund directors to argue that Wal-Mart’s alleged involvement in bribing Mexican officials has harmed the company.
Revelations of the bribery scandal first hit April 21 when the New York Times reported a “campaign of bribery” that was allegedly managed by former Wal-Mart de Mexico CEO Eduardo Castro Wright. The bribery schemes allowed Wal-Mart to obtain construction and other permits quicker than its competitors.
Some Wal-Mart watchers and legal experts have said the bribery activity could result in the removal or early retirement of Lee Scott, a Wal-Mart board member and the Wal-Mart CEO during the alleged bribery action. Click here to read the full story from our partners at TheCityWire.com.
