WILMINGTON, Del. (AP) — A Delaware judge has chastised attorneys for two large public employee retirement systems for rushing to court with lawsuits over allegations of bribery involving Wal-Mart's operations in Mexico.
|The judge on Monday denied competing requests from the California State Teachers Retirement System and a group of New York City pension funds. The motions were seeking appointments of lead plaintiff and lead counsel in a consolidated shareholder lawsuit alleging that Wal-Mart Stores Inc. officials breached their duties by allowing and covering up bribery.
|The judge said attorneys for the California and New York pension systems seemed more interested in competing with one another and filing sloppy complaints based on media reports, rather than demanding corporate records from Wal-Mart and taking time to investigate.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
