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Wal-Mart Chairman Says Company Taking Mexico Allegations 'Very Seriously'

By Karen Talley Of DOW JONES NEWSWIRES Wal-Mart Inc. (WMT) is taking "very seriously" bribery and cover-up allegations in connection with its Mexican operations, Chairman Rob Walton said Friday at the company's annual meeting. The comment came as Walton started the shareholder input part of the session and warned gathered employees and shareholders, "Don't be surprised if we have some interruptions" given Mexico is a hot button. A number of proxy advisory firms and large shareholders have indicated they will vote against several board members, including Walton, in the wake of the allegations. Wal-Mart is taking anti-bribery allegations "very seriously" and working with the U.S. government to find out what, if anything, happened, Walton said. "Operating with integrity is an integral part of our business," he said. "If violations of the law are found, appropriate action will be taken." The annual meeting, usually an uninterrupted celebration, this year comes as Wal-Mart is overhauling its global compliance programs and conducting a large-scale investigation into its Mexican operations for possible violations of the U.S. law that prohibits bribery in foreign countries. Wal-Mart off 0.6% to $65.46 in premarket trading after hitting a fresh 12-year high Thursday. -By Karen Talley, Dow Jones Newswires; (212) 416-2196; [email protected]

Stock News for Wal Mart Stores (WMT)
DateTimeHeadline
03/24/201710:15:00Health-Data Watchdog Company Has a Powerful Adviser
03/24/201705:59:00With Niche Sites, Wal-Mart Tries Selling to Hipsters
03/23/201700:01:00Movie Lovers, Rejoice: Walmart’s Vudu Launches First Mobile S...
03/20/201710:58:00Walmart Will Hold Annual Shareholders’ Meeting on June 2
03/16/201719:50:27Statement of Changes in Beneficial Ownership (4)
03/16/201719:47:42Statement of Changes in Beneficial Ownership (4)
03/16/201719:45:53Statement of Changes in Beneficial Ownership (4)
03/16/201707:15:00Today's Top Supply Chain and Logistics News From WSJ
03/16/201703:02:00Walmex Boosts Capital Spending -- WSJ
03/14/201723:52:00Wal-Mart de Mexico to Invest 17 Billion Pesos in 2017
03/14/201719:42:28Statement of Changes in Beneficial Ownership (4)
03/14/201719:38:55Statement of Changes in Beneficial Ownership (4)
03/14/201719:35:28Statement of Changes in Beneficial Ownership (4)
03/14/201719:31:46Statement of Changes in Beneficial Ownership (4)
03/14/201719:27:55Statement of Changes in Beneficial Ownership (4)
03/14/201719:19:33Statement of Changes in Beneficial Ownership (4)
03/14/201719:16:49Statement of Changes in Beneficial Ownership (4)
03/14/201719:14:58Statement of Changes in Beneficial Ownership (4)
03/14/201711:30:00More Than 22,000 Walmart Associates in Alabama to Receive Share...
03/13/201703:02:00Wal-Mart to Refit Its Stores in Brazil -- WSJ

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