Shareholder Rights Law Firm Johnson & Weaver, LLP Investigates Wal-Mart Stores Inc For Violations Of Foreign Corrupt Practices Act

Shareholder Rights Law Firm Johnson & Weaver, LLP announced that it is investigating whether certain officers and directors of Wal-Mart Stores Inc (“Wal-Mart”) breached their fiduciary duties and committed violations of the Foreign Corrupt Practices Act (“FCPA”). Johnson & Weaver, LLP’s investigation focuses on Wal-Mart’s alleged involvement in a massive bribery scandal in Mexico. Specifically, Johnson & Weaver, LLP is investigating whether Wal-Mart’s Mexican subsidiary, Walmart de Mexico, systematically bribed government officials to obtain permits and other benefits to open new stores in Mexico far more quickly than would have been possible if Wal-Mart had followed Mexican laws. According to a recent NY Times article, Walmart de Mexico may have spent more than $24 million in bribes. The article further alleges that Walmart de Mexico executives knew about the payments and actively took steps to conceal them. Most egregiously, the article claims that Wal-Mart executives shut down an internal investigation after its lead investigator reported that “there is reasonable suspicion to believe that Mexican and USA laws have been violated.” In response to the NY Times article, Wal-Mart informed the United States Justice Department that it has initiated an internal investigation into potential violations of the FCPA and other local laws.