Group of NYC funds suing Walmart chiefs
A group of New York City pension funds is suing current and former Walmart executives, saying they mishandled an alleged bribery scheme at the world’s largest retailer.
The goal in such cases, known as “derivative actions,” is to change the way a company is run. As with other derivative actions, the plaintiffs are seeking to recover any fines or other financial damages that Walmart faces as a result of the violations and have the money be awarded to the company. The pension funds own 5.6 million shares of Walmart Stores Inc.
