WALMART'S INTERNATIONAL BRIBERY PROBE WIDENS TO CHINA, BRAZIL AND INDIA
Can a company become, and stay, the world's top retailer without cutting a few legal corners?
Walmuart announced Thursday that an internal investigation into bribery accusations originating in Mexico has broadened to include Brazil, China and India. The disclosure came in a Security and Exchange filing tied to third-quarter financial results.
The widening inquiry was more bad news for the Arkansas-based multinational: Revenue and fourth quarter profit outlook came in lower than analysts had expected.
Walmart had already confirmed that its board's audit committee was investigating possible violations of the Foreign Corrupt Practices Act by its Mexican subsidiary.
-AOLnews, 11/16/12