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

4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores    WMT

WAL-MART STORES (WMT)
Mes dernières consult.
Most popular
Report
Delayed Quote. Delayed  - 12/14 10:00:29 pm
97.13 USD   -0.64%
11:28p WAL MART STORES : County needs to improve water quality
11:28p WAL MART STORES : Info sought on forged prescriptions
11:28p WAL MART STORES : Ongoing
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

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 CET

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 [email protected]. 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
[email protected]


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES
11:28p WAL MART STORES : County needs to improve water quality
11:28p WAL MART STORES : Info sought on forged prescriptions
11:28p WAL MART STORES : Ongoing
10:48p WAL MART STORES : Blue Elves share Christmas spirit with kids
10:46p WAL MART STORES : Walmart, book distributor suspend ties with Tavis Smiley
10:33p THE LATEST : Walmart suspends ties to Tavis Smiley show, tour
09:17p WAL MART STORES : Shop with a Cop fosters relations between police, kids
09:17p WAL MART STORES : Walmart shooter sentenced to over a century in prison
09:05p WAL MART STORES : Second man charged in deadly Wayne County home invasion
07:52p WAL MART STORES : Salvation Army in Camden seeks help for Red Kettle Campaign
More news
News from SeekingAlpha
04:23p Test Portfolio Results And Introducing A New Quality Portfolio
12:06p Gold Rush To Tech Rush
08:55a Retail sales shine in November
07:08a WALL STREET BREAKFAST : Mouse Hunts Down The Fox
12/13 WALL STREET BREAKFAST : Fed Decision, Outlook On Watch
Financials ($)
Sales 2018 499 B
EBIT 2018 22 668 M
Net income 2018 12 135 M
Debt 2018 40 276 M
Yield 2018 2,10%
P/E ratio 2018 24,51
P/E ratio 2019 20,90
EV / Sales 2018 0,66x
EV / Sales 2019 0,65x
Capitalization 290 B
Chart WAL-MART STORES
Duration : Period :
Wal-Mart Stores Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Technical analysis trends WAL-MART STORES
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 100 $
Spread / Average Target 2,4%
EPS Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Jonathan Barker Chief Operating Officer
Brett M. Biggs Chief Financial Officer & Executive Vice President
Jeremy King Chief Technology Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES40.02%289 602
ALIMENTATION COUCHE-TARD INC9.57%29 481
CARREFOUR-22.63%16 290
YONGHUI SUPERSTORES CO., LTD99.19%14 160
AVENUE SUPERMARTS LTD0.00%10 757
DAIRY FARM INTERNATIONAL HOLDINGS LTD11.58%10 711