Walmart preparing to pay $300 million to settle DOJ allegations of bribery in Mexico, China and India

 

 Wal Mart  is  in negotiations to pay roughly $300 million to resolve a U.S. investigation into allegations of bribery relating to its operations and  business in countries including Mexico, China and India.  Wal-Mart’s latest annual report did not contain  any legal reserve and said the company didn’t expect a settlement to have a material impact on its business. Representatives of the Justice Department and the SEC declined to comment but sources have been quoted in various news articles.

 

A deal with U.S. authorities would end Wal-Mart’s expensive legal troubles stemming from its efforts to expand rapidly abroad a decade ago. It would also allow the company to focus on improving profitability and its e-commerce business. Wal-Mart apparently refused demands last year to pay $600 million or more in penalties. Articles in the New York Times detailed alleged bribery and a  cover-up by  executives in Mexico. Wal-Mart disclosed possible violations in Mexico to the Justice Department and SEC in November 2011.