Log in
Login
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  - 07/22 10:00:16 pm
73.55 USD   +0.04%
12:35p OKLAHOMA BOOK N : Harry Potter, brotherly love and movie scripts
07/22DJWAL MART STORES : Longtime Former Wal-Mart Executive Don Soderquist ..
07/22 WAL MART STORES : Appeals court rejects lawsuit against Wal-Mart dir..
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.
12:35p OKLAHOMA BOOK NOTES : Harry Potter, brotherly love and movie scripts
07/22DJWAL MART STORES : Longtime Former Wal-Mart Executive Don Soderquist Dies at 82
07/22 WAL MART STORES : Appeals court rejects lawsuit against Wal-Mart directors
07/22 WAL MART STORES : Richmond County comes together to serve school supplies
07/22 WAL MART STORES : Depot Museum makes changes to attract visitors
07/21DJAhold-Delhaize Merger Seen On Verge of U.S. Antitrust Approval
07/21 WAL MART STORES : Walmart expanding online grocery ordering to St. Louis
07/21 BUSINESS BRIEFS : Wal-Mart asks suppliers to remove eight chemicals
07/21 WAL MART STORES : Two Walmarts evacuated in two days after bomb threats
07/20 WAL MART STORES : -Mart asks suppliers to remove 8 chemicals from products
More news
Sector news : Other Specialty Retailers - NEC
07/22DJDICKS SPORTING GOODS : Sports Authority Creditors Seek to Convert Bankruptcy Cas..
07/22DJL'Oré al to Acquire IT Cosmetics in $1.2 Billion Deal
07/21 British clothing retailers face Brexit double whammy
07/18DJU.K. Consumers Curb Shopping Trips in June After Vote to Leave EU
07/12 MARKS AND SPENCER : New M&S boss tells investors recovery plan is different this..
More sector news : Other Specialty Retailers - NEC
News from SeekingAlpha
07/23 Slurpee delivery by drone is here
07/22 A FLIGHT TO SAFETY : 10 July Dogs With 5%+ Yields & The Cash To Pay 'Em
07/22 OCADO : Overvalued, Overbought
07/22 Why I Favor Bonds Over Stocks
07/21 Big Pharma Dominates Healthcare But Caregivers Are Top Sector Yield Dogs In J..
Advertisement
Financials ($)
Sales 2017 486 039 M
EBIT 2017 22 718 M
Net income 2017 13 332 M
Debt 2017 41 784 M
Yield 2017 2,73%
P/E ratio 2017 17,20
P/E ratio 2018 16,48
EV / Sales 2017 0,56x
EV / Sales 2018 0,55x
Capitalization 229 229 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
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 69,1 $
Spread / Average Target -6,1%
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.19.98%229 229
SM INVESTMENTS CORPORA..--.--%17 476
TRACTOR SUPPLY COMPANY7.04%12 211
MARKS AND SPENCER GROU..-29.97%6 745
DUFRY AG-6.25%6 137
STAPLES, INC.-4.22%5 862
More Results