May
23
2012
By ielr
Link:
The California State Teachers' Retirement System (CalSTRS) has filed a lawsuit against 27 Wal-Mart executives, alleging corruption and bribery. The group alleges that the actions of Wal-Mart officials caused financial harm to shareholders, of which CalSTRS owns millions. The group will have to prove that the company officials acted out of self-interest rather than in the interest of the company, or that the officials don't deserve liability protection due to their indefensible decisions. Wal-Mart is currently under investigation by both the SEC and the Justice Department.