Walmart on Friday scored another win against shareholders seeking to hold the retail giant liable for an alleged bribery scheme in Mexico involving one of the company’s subsidiaries.
The U.S. Court of Appeals for the Eighth Circuit upheld an Arkansas federal judge’s dismissal of the shareholder class action. The shareholders failed to show that it would have been futile to first ask Walmart’s board of directors to pursue legal action, as is required in these types of cases, Chief Judge William Riley wrote for the three-judge appeals panel.
