Walmart Puts Aside $283M For Potential FCPA Settlement
Law360, New York (November 16, 2017, 2:37 PM EST) -- Wal-Mart Stores Inc. said Thursday it expects to pay $283 million to resolve long-running U.S. Department of Justice and U.S. Securities and Exchange Commission investigations into the retail giant’s possible violations of the Foreign Corrupt Practices Act.
Walmart disclosed it has recorded an accrual in that amount as part of its third-quarter earnings, noting that discussions with the government remain ongoing but have reached a point where the company “can now reasonably estimate a probable loss.”
“As the discussions are continuing, there can be no assurance that the company’s efforts to reach a final resolution with the government agencies will be...
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