Fast-Filing Plaintiffs Rebuked In Wal-Mart Bribery Case

Law360, Wilmington (July 16, 2012, 8:22 PM EDT) -- Two groups of pension funds vying for the lead role in shareholder derivative litigation over the Wal-Mart Stores Inc. Mexican bribery scandal met with harsh medicine Monday from a Delaware judge, who chastised their attorneys for filing suit first and asking questions later.

At a hearing in Delaware Chancery Court, Chancellor Leo Strine rejected motions from both the California State Teachers’ Retirement System and New York City’s pension funds to take the reins in the case, questioning why their lawyers had rushed to sue before gaining...
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