Walmart Avoids Suit Over Alleged Mexican Bribery Scheme

Walmart Inc. doesn’t have to face a securities suit based on alleged bribery schemes involving its Mexican subsidiary, the U.S. Court of Appeals for the Second Circuit said Dec. 26.

In 2012, a New York Times article reported on how Walmart de Mexico operated and allegedly bribed local Mexican officials to get building permits and licenses for its stores.

A Walmart investor subsequently challenged statements the company made in documents and press releases asserting the Mexican projects were being conducted with honesty and integrity, and were consistent with the company’s core values.

The investor said the statement were inaccurate and ...