IN RE WAL-MART STORES, INC. DELAWARE DERIVATIVE LITIGATION.
Court of Chancery of Delaware.https://leagle.com/images/logo.png
Submitted: February 3, 2016.
Decided: May 13, 2016.
Attorney(s) appearing for the Case
Stuart M. Grant, Michael J. Barry and Nathan A. Cook, GRANT & EISENHOFER P.A., Wilmington, Delaware; Christine S. Azar and Ryan T. Keating, LABATON SUCHAROW LLP, Wilmington, Delaware; Daniel Girard, Amanda Steiner, Dena Sharp and Adam Polk, GIRARD GIBBS LLP, San Francisco, California; Thomas A. Dubbs, Louis Gottlieb and Jeffrey A. Dubbin, LABATON SUCHAROW LLP, New York, New York; Frederic S. Fox, Hae Sung Nam, Donald R. Hall and Jeffrey P. Campisi, KAPLAN FOX & KILSHEIMER LLP, New York, New York; Co-Lead Attorneys for Co-Lead Plaintiffs California State Teachers' Retirement System, New York City Employees' Retirement System, New York City Police Pension Fund, Police Officers' Variable Supplements Fund, Police Supervisor Officers' Variable Supplements Fund, New York City Fire Department Pension Fund, Fire Fighters' Variable Supplements Fund, Fire Officers' Variable Supplements Fund, Board of Education Retirement System of The City of New York, Teachers' Retirement System of The City of New York, New York City Teachers' Variable Annuity Program, and Indiana Electrical Workers Pension Trust Fund IBEW.
Donald J. Wolfe, Jr., Stephen C. Norman and Tyler J. Leavengood, POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Theodore J. Boutrous, Jr., George H. Brown, Joshua S. Lipshutz and Alexander K. Mircheff, GIBSON, DUNN & CRUTCHER LLP, Los Angeles, California; Jonathan C. Dickey and Brian M. Lutz, GIBSON, DUNN & CRUTCHER LLP, New York, New York; Mark A. Perry, GIBSON, DUNN & CRUTCHER LLP, Washington, District of Columbia; Attorneys for Nominal Defendant Wal-Mart Stores, Inc. and Defendants Aida M. Alvarez, James I. Cash, Roger C. Corbett, Douglas N. Daft, Michael T. Duke, Gregory B. Penner, Steven S. Reinemund, Jim C. Walton, S. Robson Walton, Michele Burns, David D. Glass, Roland A. Hernandez, John D. Opie, J. Paul Reason, Arne M. Sorenson, Jose H. Villarreal, Eduardo Castro-Wright, Thomas A. Hyde, Thomas A. Mars, John B. Menzer and Lee Stucky.
MEMORANDUM OPINION
BOUCHARD, C.
In April 2012, the New York Times published an exposé describing the cover-up of an alleged bribery scheme at Wal-Mart de Mexico ("WalMex"), a subsidiary of Wal-Mart Stores, Inc. ("Wal-Mart"). On the heels of this article, Wal-Mart stockholders filed fifteen lawsuits in Arkansas and Delaware...
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