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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
11/28/201415:27:42MARKET SNAPSHOT: Stocks End Mixed; OPEC Sinks Energy Sector
11/28/201415:26:07Wal-Mart, Target Report Strong Thanksgiving Day Traffic--4th...
11/28/201415:25:31MARKET SNAPSHOT: U.S. Stocks: OPEC Sinks Energy Sector, Airlines...
11/28/201415:22:05Correction to Wal-Mart, Target Thanksgiving Day Traffic Updates
11/28/201415:14:57MARKET SNAPSHOT: U.S. Stocks Mixed; Energy Sector Slammed, Airlines...
11/28/201414:49:02MARKET SNAPSHOT: U.S. Stocks: Energy Sector Slammed After OPEC...
11/28/201414:22:52Wal-Mart, Target Report Strong Thanksgiving Day Traffic--3rd...
11/28/201413:10:47Wal-Mart, Target Report Strong Thanksgiving Day Traffic--2nd...
11/28/201412:09:37Correction to Wal-Mart Thanksgiving Sales Article
11/28/201411:01:22Wal-Mart and Target Report Strong Thanksgiving Sales -- Update
11/28/201410:42:56Wal-Mart and Target Report Strong Sales
11/28/201409:45:54Wal-Mart and Target Report Strong Thanksgiving Sales
11/28/201407:01:14MARKET SNAPSHOT: U.S. Stocks: Energy Firms Slammed After OPEC...
11/26/201421:21:35Wal-Mart Stores Inc. Cuts Nearly 30 Directors and Midlevel Managers...
11/25/201415:52:52Wal-Mart's Chief Merchandising Officer to Leave--Update
11/25/201415:46:09U.K. Retailers Embrace Black Friday
11/25/201415:38:53MARKET SNAPSHOT: U.S. Stocks: Futures Rise After GDP Data
11/25/201413:38:26MARKET SNAPSHOT: U.S. Stocks: Futures Point To Further Highs...
11/25/201401:25:08Wal-Mart's Chief Merchandising Officer to Leave - Sources
11/24/201414:05:53Barnes & Noble's Secret Weapon for Black Friday: 500,000 Signed...

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