Wal-Mart's Costs Connected To Mexican Bribery Case Reach $400M

[BlueToTheBone]

http://www.arkansasbusiness.com/article/96030/wal-marts-costs-connected-to-mexican-bribery-case-reach-400m
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Currently, the lawsuits are slowly making their way through the courts.

The California State Teachers’ Retirement System and two other pension funds have been named as lead plaintiffs in a 2012 lawsuit against Wal-Mart and its directors for alleged violations of the Foreign Corrupt Practices Act.

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Meanwhile, Wal-Mart is concerned about an investigation by the DOJ and SEC over alleged violations in connection with the FCPA. If the DOJ and SEC decide to bring charges, Wal-Mart could face criminal convictions or fines, according to the company’s SEC filings.

Since 2007, companies that have violated the FCPA have paid millions of dollars in fines.

In 2010, 23 companies paid a total of $1.8 billion in fines to the DOJ and SEC for FCPA violations, according to a 2012 report titled “Double Trouble: Collateral Shareholder Litigation Following Foreign Corrupt Practices Act Investigations,” by Amy Westbrook, a professor of law at Washburn University School of Law in Topeka, Kan. In 2011, 16 companies paid more than $508 million in fines, the report said. But in 2012, only eight companies agreed to pay more than $152 million in penalties, according to news releases from the DOJ.