U.S. Judge Says Wal-Mart Must Face Mexican Bribe Claims

Wal-Mart was ordered by a federal judge in Arkansas to face a pension fund's claims the retailer defrauded shareholders by concealing corruption tied to bribes allegedly paid by officials of its Mexican unit. U.S. District Judge Susan Hickey in Fayetteville rejected Wal-Mart's bid to throw out the Michigan-based fund's lawsuit accusing it of making misleading statements to regulators about claims it paid bribes to facilitate Mexican real estate deals. Wal-Mart said it's spent $439 million since 2012 in connection with investigations into allegations that employees paid bribes in Mexico, China, India and Brazil.