Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores, Inc.    WMT

Delayed Quote. Delayed  - 08/23 10:01:17 pm
71.97 USD   -1.00%
08/23 WAL MART STORES : Police to perch for Special Olympics
08/23DJWAL MART STORES : Mart Probes Whether India Company Misrepresented C..
08/23DJTesco U.K Market Share Loss Continues; Seen Returning to Growth t..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Wal-Mart Stores, Inc. : Robbins Geller Rudman & Dowd LLP Appointed Lead Counsel in Suit against Wal-Mart Stores, Inc.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/29/2012 | 01:00am CEST

Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/walmart/) today announced that the firm was appointed as lead counsel in a securities class action captioned City of Pontiac General Employees' Retirement System v. Wal-Mart Stores, Inc., Case No. 5:12-cv-5162-SOH, pending in the Western District of Arkansas. The City of Pontiac General Employees' Retirement System was appointed as lead plaintiff in this action on behalf of purchasers of Wal-Mart Stores, Inc. ("Wal-Mart" or the "Company") (NYSE:WMT) common stock between December 8, 2011 and April 20, 2012 (the "Class Period") who suffered losses in connection therewith, including Class Period purchasers who sold those shares between April 23, 2012 and May 21, 2012.

The action alleges that Wal-Mart and certain of its officers and directors violated the Securities Exchange Act of 1934 by failing to disclose that Wal-Mart and its executives were involved in a multi-million-dollar bribery scheme at the Company's Mexican subsidiary, Wal-Mart de Mexico ("Wal-Mart Latin America"). On April 21, 2012, The New York Times published an article reporting that Wal-Mart had "shut . . . down" an investigation concerning evidence that Wal-Mart Latin America had engaged in "widespread bribery," which included a paper trail of hundreds of suspect payments totaling more than $24 million. The article reported that top executives at Wal-Mart and Wal-Mart Latin America knew about but disregarded the bribery scheme. As a result of this news, Wal-Mart's stock declined nearly 5% on April 23, 2012, on volume of 38 million shares. The stock dropped again on April 24, 2012, to close at $57.77 per share on volume of 30 million shares, and on April 25, 2012, fell to $57.36 per share on volume of 28 million shares, as investors absorbed this shocking news.

The complaint alleges that defendants knew, but concealed from the investing public during the Class Period, that the Company had violated the Foreign Corrupt Practices Act in connection with the bribery payments and that Wal-Mart management did not address ethical concerns in a "timely and effective manner" as represented by defendants. Wal-Mart is the subject of a probe in Mexico by Mexican authorities and the subject of criminal and congressional investigations in the United States.

According to the complaint, defendants' allegedly false statements caused Wal-Mart stock to trade at artificially inflated levels throughout the Class Period. As the truth began to leak into the market, the price of Wal-Mart's artificially inflated stock declined significantly. These revelations, and the elimination of the artificial inflation from Wal-Mart's stock price, caused economic harm to investors who purchased Wal-Mart common stock at artificially inflated prices during the Class Period.

Plaintiff seeks to recover damages on behalf of all purchasers of Wal-Mart common stock during the Class Period (the "Class"). If you purchased Wal-Mart common stock during the Class Period and sold your stock after April 23, 2012, when the alleged fraud was revealed, have any information regarding the allegations contained in the complaint, or generally wish to discuss this action or your rights or interests, please contact Jason Forge of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at jforge@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/walmart/.

Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries in history and has been ranked number one in the number of shareholder class action recoveries in MSCI's Top SCAS 50 every year since 2003. According to Cornerstone Research, the firm's recoveries have averaged 35% above the median for all firms over the past seven years (2005-2011). Please visit http://www.rgrdlaw.com for more information.

Robbins Geller Rudman & Dowd LLP
Jason Forge
800/449-4900 or 619/231-1058
jforge@rgrdlaw.com


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES, INC.
08/23 WAL MART STORES : Police to perch for Special Olympics
08/23DJWAL MART STORES : Mart Probes Whether India Company Misrepresented Cotton Sheets
08/23DJTesco U.K Market Share Loss Continues; Seen Returning to Growth this Year
08/23DJPHOTO ME INTERNATIONAL : Me to Acquire Asda's Business for GBP5.4 Million
08/23 PHOTO ME INTERNATIONAL : Me Buys Asda's UK Division For Up To GBP6 Million
08/23 JUDGE : Ammo lawsuit tied to Valley slayings going back to Philly court
08/22 WAL MART STORES : Walmart and the Walmart Foundation Announce Additional $1 Mill..
08/22 PPG PAINTS brand launches Preferred Homeowner Portal, offers paint discounts ..
08/22 WAL MART STORES : No supermarket in a county that raises beef cattle, corn, prod..
08/22DJTarget Cuts Ties With India Textile Company
More news
Sector news : Other Specialty Retailers - NEC
08/22DJHELP WANTED : Office Supply Chain CEO
08/17DJSTAPLES : Swings to Loss, to Close 50 Stores This Year
08/16DJDICKS SPORTING GOODS : Dick's Sporting Goods Posts Surprise Increase in Financia..
08/16 FTSE slips from 14-month highs as UK inflation bites
08/16DJDick's Sporting Goods Posts Surprise Increase in Financial Results
More sector news : Other Specialty Retailers - NEC
News from SeekingAlpha
08/23 Is Kroger A Bargain Dividend Growth Stock Or Value Trap?
08/23 Game Plan For The Week - Cramer's Mad Money (8/22/16)
08/22 Look What I Found
08/22 WAL-MART : Moving From Strength To Strength Against Amazon
08/22 MARKET CHALLENGE : Retail Earnings
Advertisement
Financials ($)
Sales 2017 487 248 M
EBIT 2017 23 011 M
Net income 2017 13 626 M
Debt 2017 41 700 M
Yield 2017 2,76%
P/E ratio 2017 16,54
P/E ratio 2018 16,15
EV / Sales 2017 0,55x
EV / Sales 2018 0,54x
Capitalization 226 580 M
More Financials
Chart WAL-MART STORES, INC.
Duration : Period :
Wal-Mart Stores, Inc. Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Full-screen chart
Technical analysis trends WAL-MART STORES, ...
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 72,9 $
Spread / Average Target 0,33%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Greg B. Penner Chairman
Michael J. Bender Chief Operating Officer & Global eCommerce
Brett M. Biggs Chief Financial Officer & Executive Vice President
Karenann K. Terrell Chief Information Officer & Executive VP
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES, INC.17.41%226 580
SM INVESTMENTS CORPORA..--.--%17 993
TRACTOR SUPPLY COMPANY-0.39%11 455
MARKS AND SPENCER GROU..-25.53%7 203
DUFRY AG-5.83%6 335
STAPLES, INC.-8.34%5 503
More Results