U.S. Judge Says Wal-Mart Must Face Mexican-Bribe Claims
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Wal-Mart Stores Inc. was ordered by a federal judge in Arkansas to face a pension fund’s claims the retailer defrauded shareholders by concealing corruption tied to bribes allegedly paid by officials of its Mexican unit.
U.S. District Judge Susan Hickey in Fayetteville rejected Wal-Mart’s bid to throw out the Michigan-based fund’s lawsuit accusing it of making misleading statements to regulators about claims it paid bribes to facilitate Mexican real-estate deals.