Key Developments: Wal Mart de Mexico SAB de CV (WMMVF.PK)
2.94USD
24 May 2013
$0.01 (+0.34%)
$2.93
$2.94
$2.95
$2.91
11,864
90,765
$3.39
$2.39
Latest Key Developments (Source: Significant Developments)
Gainey McKenna & Egleston Files Class Action Lawsuit Against Wal Mart de Mexico SAB de CV
Gainey McKenna & Egleston announced that it filed a class action in the United States District Court for the Southern District of New York on behalf of purchasers of the American Depositary Shares (ADRs) of Wal-Mart de Mexico SAB de CV between February 21, 2012 through April 22, 2012, inclusive (the Class Period). The case is brought against Wal-Mart de Mexico and Ernesto Vega (the Chairman of the Board of Directors, Chairman of the Audit and Corporate Practices Committee of Wal-Mart de Mexico), seeking to pursue remedies under the Securities Exchange Act of 1934 (the Exchange Act). The Complaint alleges that Defendants Wal-Mart de Mexico and Ernesto Vega violated the Exchange Act by issuing during the Class Period materially false and misleading statements regarding Wal-Mart de Mexico's business practices with respect to unlawful or unethical bribery conduct. Specifically, the Complaint alleges that Wal-Mart de Mexico failed to disclose that it had been involved in a bribery scheme, and as a result of the false and misleading statements disseminated by Defendants, the Wal-Mart de Mexico ADRs traded at artificially inflated prices during the Class Period. Full Article
Law Offices of Howard G. Smith Announces Investigation On Behalf of Investors of Wal Mart de Mexico SAB de CV
Law Offices of Howard G. Smith announced that it is investigating potential claims against Wal-Mart de Mexico SAB de CV concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by Wal-Mart de México between February 21, 2012 and April 22, 2012 regarding the Company’s operations and financial performance. Wal-Mart de México owns and operates a network of retail stores in Mexico and Central America. The investigation is related to allegations that Wal-Mart de Mexico – the largest foreign subsidiary of U.S.-based Wal-Mart Stores, Inc. (Wal-Mart) -- had orchestrated a multi-year campaign of bribery to win market dominance, and that Wal-Mart de Mexico executives knew about the payments and actively took steps to conceal them, thereby causing Wal-Mart de Mexico American Depositary Shares (ADRs) to trade at artificially inflated prices. In April 2012, The New York Times reported that in 2005 Wal-Mart’s own investigators found evidence confirming these and other instances of alleged bribery. Full Article
Wal Mart de Mexico SAB de CV To Propose FY 2012 Dividend Payment
Wal Mart de Mexico SAB de CV announced that during its shareholders meeting, to be held on March 14, 2012, it will propose the distribution of a dividend payment for fiscal year 2012 at a value of MXN 0.46 per share, to be paid on April 23, 2013, as well as two extraordinary dividend payments: the first one at a value of MXN 0.29 per share, to be paid on April 23, 2012 and the second one at a value of MXN 0.17 per share to be paid on November 26, 2013. Full Article
Wal-Mart de Mexico SAB de CV To Propose FY 2011 Dividend Payment
Wal-Mart de Mexico SAB de CV announced that during its shareholders meeting, to be celebrated on March 27, 2012, it will propose the distribution of a dividend payment for fiscal year 2011 at a value of MXN 0.44 per share, as well as an extraordinary dividend payment at a value of MXN 0.11 per share, under the coupons no. 53 and 54, respectively. Both dividends reach the total amount of MXN 0.55 per share. If approved, both dividends will be effective on April 30, 2012. Full Article
Shares in Walmex drop after weak April sales data
MEXICO CITY, May 7 - Shares in Mexico's biggest retailer, Wal-Mart de Mexico, fell by more than two percent in early trading on Tuesday after it reported a 3.6 percent year-on-year decline in same-store sales in April.
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