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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
02/22/201703:02:00Wal-Mart, Home Depot Buck Trend -- WSJ
02/21/201717:12:00Wal-Mart, Home Depot Buck Shopping Slump
02/21/201710:18:00Wal-Mart Posts Strong Holiday Sales, But E-Commerce Battle With...
02/21/201710:01:00Asda 4Q Comparable Sales Fall 2.9% Vs 5.8% in 3Q
02/21/201707:57:00Wal-Mart, Spending to Fend off Amazon, Posts Earnings Decline...
02/21/201707:07:00Walmart raises annual dividend to $2.04 per share, marking 44th...
02/21/201707:01:46Current Report Filing (8-k)
02/21/201707:01:00Walmart U.S. Q4 comps grew 1.8% & Walmart U.S. eCommerce GMV...
02/21/201703:03:00Ahead of the Tape: A Big Box of Trouble for Wal-Mart -- WSJ
02/20/201706:29:00Wal-Mart's Same-Store Sales Seen Rising -- Earnings Preview
02/19/201712:51:00Wal-Mart's Big Box of Trouble -- Ahead of the Tape
02/15/201718:49:00Wal-Mart de Mexico Profit Rises 23% in Fourth Quarter -- Update
02/15/201717:25:00Wal-Mart de Mexico Profit Rises 23% in Fourth Quarter
02/08/201716:37:04Amended Statement of Ownership (sc 13g/a)
02/07/201712:51:00Sam’s Club® Offers higi Technology to Help Members and the Pu...
02/06/201703:02:00Wal-Mart Takes Its Time -- WSJ
02/04/201703:02:00The Taxman Misses Kickoff -- WSJ
02/03/201705:59:00Super Bowl TV Sales Face Fuzzy Reception
02/02/201718:17:00Uber CEO Travis Kalanick Leaves President's Business Council...
02/02/201718:02:00Exporters Tout Benefits of Republicans' 'Border Adjustment' Proposal--Update

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