Wal-Mart Investor Sues Execs Over Reported Bribery Plot

Law360, New York (April 25, 2012, 6:24 PM EDT) -- A Wal-Mart Stores Inc. investor launched a derivative suit against the retail chain's officers and directors Wednesday, claiming they greatly injured the company by engaging in or covering up an alleged $24 million bribery campaign designed to further Wal-Mart's expansion in Mexico.

Filed in Delaware Chancery Court on behalf of Wal-Mart, the shareholder suit claims certain directors, including Chairman Rob Walton, and three executives of the company's Mexican operations “violated and breached their fiduciary duties of care, loyalty, reasonable inquiry, oversight, good faith and supervision” required...
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