NEW YORK (AP) — One of the nation's largest public pension funds has filed a lawsuit against current and former Wal-Mart executives and board members, saying they had breached their responsibility in handling an alleged bribery scheme.
The California State Teachers' Retirement System which holds more than 5.3 million shares of Wal-Mart Stores Inc., filed what's called a derivative suit late Thursday in state court in Delaware seeking changes in corporate governance and improvements in its internal procedures at the world's biggest retailer.
The pension fund is asking that any damages sustained as a result of the violations should be awarded to the company, which is based in Bentonville, Ark.
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