Robbins Geller Defeats Wal-Mart Stores, Inc.’s Motion to Dismiss Securities Case Arising Out of Mexico Bribery Scandal
On September 26, 2014, Judge Susan O. Hickey of the U.S. District Court for the Western District of Arkansas denied defendants Wal-Mart Stores, Inc. and Michael T. Duke’s motion to dismiss a securities complaint arising out of allegations published by The New York Times in an article describing an alleged bribery scheme that occurred in Mexico. In denying the motion to dismiss, Judge Hickey affirmed the Magistrate Judge’s report and recommendation which concluded that the Amended Complaint sufficiently alleged that defendants’ Class Period statements and omissions were materially false and misleading and made with the requisite knowledge or recklessness.
Robbins Geller is serving as lead counsel in this case. A copy of the order can be viewed here.