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Walmart sets aside $283M for FCPA resolution

Jaclyn Jaeger | November 17, 2017

Walmart-Stores said this week that it has recorded an aggregate accrual of $283 million concerning the possible resolution with U.S. enforcement authorities of a longstanding Foreign Corrupt Practices Act case.

Walmart first disclosed the potential FCPA violations in 2011, followed by a damning report published in the New York Times in 2012, painting a portrait of widescale corruption and bribery at Walmart. Since that time, Walmart has been cooperating with the U. S. Department of Justice and the U.S. Securities and Exchange Commission concerning their investigations.

“These discussions have progressed to a point that the company can now reasonably estimate a probable loss and has recorded an aggregate accrual of $283 million with respect to these matters,” Walmart stated in its latest...

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