A judge has dismissed a lawsuit that accused Wal-Mart’s Mexico operations of misleading shareholders during an alleged bribery scheme.
The federal judge in New York on Monday rejected shareholder claims that former Wal-Mart executives knew about bribery allegations or should have known. U.S. District Judge Katherine Polk Failla also said Wal-Mart could not be liable for former employees’ actions.
This and other lawsuits were prompted by allegations in 2012 that Wal-Mart’s Mexican unit paid millions of dollars in bribes to speed building permits and gain other favors. The allegations spurred federal investigations in the U.S. and Mexico, and a global anti-corruption compliance review by Bentonville, Arkansas-based Wal-Mart.
Company spokesman Randy Hargrove said Wal-Mart appreciates the court’s careful consideration and is pleased with the decision dismissing the claims.
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