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Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Wal-Mart Stores Inc


Monday, 7 May 2012 06:30pm EDT 

Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Middle District of Tennessee on behalf of purchasers of Wal-Mart Stores, Inc. common stock during the period between December 8, 2011 and April 20, 2012. The complaint charges Walmart and certain of officers and Directors with violations of the Securities Exchange Act of 1934. Walmart operates retail stores in various formats worldwide. The complaint alleges defendants engaged in unlawful and unethical conduct. During the Class Period, defendants issued materially false and misleading statements regarding Walmart’s practices with respect to unlawful or unethical conduct. Specifically, the Company failed to disclose that its executives had been involved in a multi-million-dollar bribery scheme at Walmart’s Mexican subsidiary, Wal-Mart de Mexico. 

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