Newman Ferrara LLP Investigates Wal-Mart Stores Inc

Newman Ferrara LLP announced that it has begun an investigation into whether certain officers and directors of Wal-Mart Stores, Inc. (“Wal-Mart” or the “Company”) violated the Foreign Corrupt Practices Act in connection with alleged bribery payments at the Company’s Mexican subsidiary. On April 12, 2012, The New York Times reported that Wal-Mart shut down an investigation concerning evidence that Wal-Mart de Mexico, a subsidiary of Wal-Mart, engaged in widespread bribery a paper trail of hundreds of suspect payments totaling more than $24 million. According to the report, Wal-Mart de Mexico’s top executives knew about and concealed the scheme. Eduardo Castro-Wright, former Wal-Mart de Mexico chief executive and current vice chairman of Wal-Mart, was identified driving force behind years of bribery.