Walmart Comes Clean About the Costs of Bribery Investigations

Retail

Published: March 27, 2013 6:35 am

Last Updated: December 24, 2013 9:15 am

Wal-Mart Stores Inc. (NYSE: WMT) owned up to the fact that investigations into bribery allegations, particularly in Mexico, could cost it a great deal of money. In its 10-K, the retailer said:

We cannot predict at this time the outcome or impact of the government investigations, the shareholder lawsuits, or our own internal investigations and review. Moreover, we expect to continue to incur costs (in addition to the $157 million of costs incurred in fiscal 2013) in conducting our on-going review and investigations and in responding to requests for information or subpoenas seeking documents, testimony and other information in connection with the government investigations and in defending the existing and any additional shareholder lawsuits and any governmental proceedings that are instituted against us or any of our current or former officers. These matters may require the involvement of certain members of our senior management that could impinge on the time they have available to devote to other matters relating to our business.

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