Walmart to Pay $282 Million to Settle Claims of Corrupt Payments Abroad, SEC Says--Update
June 20 2019 - 3:15PM
Dow Jones News
By Dave Michaels
Walmart Inc. agreed to pay about $282 million to settle both
criminal and civil claims related to payments made by outside
consultants in Brazil, China, India and Mexico, the Securities and
Exchange Commission said Thursday.
The SEC said Walmart violated the Foreign Corrupt Practices Act,
which effectively forbids U.S.-listed companies from paying bribes
to win business abroad. The deal requires Walmart to pay $144
million to the SEC and $138 million to the Justice Department, the
regulator said.
The resolution comes after settlement talks between Walmart and
the U.S. government have dragged on for years.
Karen Hewitt, an attorney for Walmart at Jones Day, declined to
comment.
(More to come)
Write to Dave Michaels at dave.michaels@wsj.com
(END) Dow Jones Newswires
June 20, 2019 15:00 ET (19:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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