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NYC Pension Funds File Complaint Against Wal-Mart
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has repeatedly rebuffed our office and the New York City Pension Funds when we have raised concerns over the company's failure to comply with legal and ethical standards," said New York City Comptroller John Liu in a statement.

The pension funds said they seek to "recover corporate assets lost as the result of its wrongful acts, tighten legal and regulatory compliance structures, and institute improved governance oversight."

The pension funds added separate derivative cases against Wal-Mart are also pending in Delaware Chancery Court and the U.S. District Court in Arkansas.

Wal-Mart's share price, which declined after the New York Times report, has rebounded from its April 25 low of $57.18. The shares were down 0.4% to $67.97 in recent trading.

Write to Amy Or at amy.or@dowjones.com

Copyright © 2012 Dow Jones Newswires


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