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NYC Pension Funds File Complaint Against Wal-Mart
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The New York City Pension Funds said Monday they have filed a shareholder derivative action against Wal-Mart Stores Inc. (WMT) regarding allegations of a "bribery and corruption scandal" at the discount store chain's Mexico unit.

The complaint, filed in the Delaware Chancery Court, alleges Wal-Mart's officers and directors breached their fiduciary duty to the company and its shareholders by "failing to properly handle credible claims of the bribery allegations and attempting to cover up details of the scandal."

The New York Times reported in April that Wal-Mart de Mexico had paid bribes to obtain construction permits in order to gain market dominance. While an internal investigation by Wal-Mart found widespread evidence of bribery, executives kept quiet, according to the New York Times. No enforcement officials were notified, and no staff was disciplined, the newspaper added.

"Wal-Mart's board


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