Court Revives Wal-Mart Suit Against Former Exec

Law360, New York (April 12, 2007, 12:00 AM EDT) -- The Arkansas Supreme Court has overturned a state court's decision to toss Wal-Mart’s suit to sever a retirement agreement with a convicted former executive, ruling that a jury should hear Wal-Mart’s case.

Wal-Mart Stores Inc., the world’s biggest retailer, is aiming to scrap a multimillion-dollar retirement settlement it offered to former vice chair Thomas Coughlin, who later admitted to defrauding the company by misappropriating corporate gift cards and expense reimbursements.

Wal-Mart and Coughlin had entered into an agreement in which both sides pledged not to sue...
To view the full article, register now.