October 26, 2018

Walmart reaches settlement with investors related to long-running bribery investigation

A stipulation of settlement has been reached in a securities class action filed in 2012, following a drop in the company’s share value allegedly precipitated by the disclosure of potential FCPA violations in Mexico.  The investors claimed that Walmart had made materially false and misleading statements by failing to disclose the alleged bribery years before it became public.  By settling, Walmart does not concede fault, liability, or wrongdoing.  The stipulation of settlement has been submitted to the court for approval.

Stipulation of settlement | Walmart Form 8-K