The second largest U.S. public pension fund said on Thursday
it had sued current and former executives and board members at Wal-Mart Stores
Inc, alleging bribery and a cover-up in the company's expansion in Mexico according to a Reuters report. .
The $153 billion California State Teachers' Retirement
System (CalSTRS), which holds more than 5.3 million shares of Wal-Mart Stores
Inc, said in a statement it had filed the derivative lawsuit in Delaware on
behalf of the company.
The lawsuit is based on a story that appeared last month in
the New York Times that reported Wal-Mart de Mexico, which is 69 percent owned
by Wal-Mart, orchestrated a widespread bribery campaign to win market dominance….
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