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Bribery case at Walmart in Mexico may widen

Friday, May 18, 2012

As Wal-Mart reported higher-than-expected first-quarter earnings on Thursday, it suggested in a regulatory filing that the scope of an internal investigation into bribery accusations had widened beyond the retailer’s subsidiary in Mexico.

The company reported that the audit committee of the Wal-Mart Stores board was examining possible violations of the Foreign Corrupt Practices Act and “other alleged crimes or misconduct in connection with foreign subsidiaries, including Wal-Mart de México.”

It was the first public disclosure by the company that the internal inquiry could involve additional subsidiaries, though none was named.

Source: New York Times