Walmart reports it may soon resolve potential FCPA violations with the DOJ and SEC

Walmart disclosed in its quarterly report that it has accrued $283 million for the potential resolution of long-running FCPA investigations by the DOJ and SEC into alleged misconduct by the company’s foreign subsidiaries in in Mexico, Brazil, China, India, and elsewhere.  The company reported that its audit committee is also looking into whether prior allegations of misconduct were handled appropriately, and that it is in the process of conducting a global review to strengthen its anti-corruption compliance program.  The company reported that, for the first three quarters of 2018,  it incurred approximately $24 million in expenses on its internal investigation of the allegations, multi-jurisdictional government investigations, and related shareholder lawsuits, down from $33 million incurred during the same period in 2017.  For more on the recent settlement of one related shareholder lawsuit against Walmart, see here.

Form 10-Q