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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; karen.talley@dowjones.com

Stock News for Wal Mart Stores (WMT)
DateTimeHeadline
10/07/201414:08:03Correction to Wal-Mart Health Insurance Story
09/25/201408:02:44U.S. Justice Department to Review Ohio Wal-Mart Shooting
09/22/201413:11:06Tesco Suspends Executives, Probes Accounting Error--5th Update
09/22/201408:27:22Tesco Suspends Executives, Probes Accounting Error--4th Update
09/22/201404:20:06Tesco Error Triggers New Profit Warning
09/22/201403:44:52Tesco Error Triggers New Profit Warning--Update
09/10/201420:19:12Will Stores Warm Up to Apple Pay?
09/02/201406:30:09MARKET SNAPSHOT: Why September May Slow Further S&P Records
08/27/201406:14:30Aldi, Lidl, Asda, Waitrose Market Shares Rise
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08/14/201421:30:10Supervalu Investigating Potential Data Breach
08/14/201416:21:51MARKET SNAPSHOT: U.S. Stocks Rise Modestly; Berkshire Tops $200K
08/14/201411:50:23MARKET SNAPSHOT: U.S. Stocks Edge Higher; Retailers In Focus
08/14/201409:49:26MARKET SNAPSHOT: U.S. Stocks Open Higher; Wal-Mart Cuts Outlook
08/14/201409:23:21MARKET SNAPSHOT: U.S. Stocks: Futures Turn Flat After Jobless...
08/14/201408:27:51Asda 10 Week Comparable Sales +0.5%; Online Boosted by Click...
08/14/201408:11:12MARKET SNAPSHOT: U.S. Stocks: Futures Stay Up After Wal-Mart...
08/14/201406:44:38MARKET SNAPSHOT: U.S. Stocks: Futures Edge Up With Wal-Mart Results...
08/11/201415:47:19Dispute Erupts Between Amazon and Disney
08/08/201412:43:42Wal-Mart Denies China Media Report of Selling Expired Products

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