Wal-Mart’s Mexican Troubles

Different countries seem to bring different legal problems unto mega-retailer, Wal-Mart. In Canada, these included unionization challenges. In the U.S., Wal-Mart fended of class action allegations of gender discrimination that went to the U.S. Supreme Court. And now, it faces allegations of bribery in Mexico.

Thomson Reuters reported that Wal-Mart Stores Inc lost $10 billion of its market value this past Monday over concerns that a bribery investigation in Mexico could be extremely costly and hinder growth plans:
http://newsandinsight.thomsonreuters.com/Legal/News/2012/04_-_April/WRAPUP-Wal-Mart_shaken_by_bribery_probe,_shares_plunge/

Meanwhile, law.com reports on General Counsel, past and present at Wal-Mart, in connection with the case. It was “[In 2005], a senior in-house lawyer in Mexico claimed the Wal-Mart de Mexico subsidiary paid out some $24 million in bribes to foreign officials to secure licenses and permits for new stores”: http://www.law.com/jsp/cc/PubArticleCC.jsp?id=1202550132539&What_Did_WalMarts_GC_Know_About_Bribery_in_Mexico

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