In a filing with the SEC today, Wal-Mart said it has been informed by the SEC and the DOJ of investigations into possible violations of the Foreign Corrupt Practices Act, related to the company’s bribery in Mexico scandal.
“The Company could be exposed to a variety of negative consequences as a result of the matters noted above. There could be one or more enforcement actions in respect of the matters that are the subject of some or all of the ongoing government investigations, and such actions, if brought, may result in judgments, settlements, fines, penalties, injunctions, cease and desist orders or other relief, criminal convictions and/or penalties,” the filing said. The investigations and related lawsuits filed by shareholders are in their early stages, but Wal-Mart said “the Company can provide no assurance that these matters will not be material to its business in the future.”
