WASHINGTON, Jan. 6 – LAWFUEL – The Law News Netwo…

WASHINGTON, Jan. 6 – LAWFUEL – The Law News Network — Wal-Mart Watch Executive Director Andrew Grossman issues the following statement in response to the news of a federal plea agreement by former Wal-Mart Vice Chairman Thomas Coughlin:

“Wal-Mart is a company in turmoil. The Coughlin episode is emblematic of
the mounting problems and continuing crises plaguing this company. We hope
that with the announcement of this plea agreement, Wal-Mart will enact tough,
transparent measures to ensure that corporate malfeasance be curtailed. We
believe that, given the secretive nature of this corporation, Wal-Mart’s
independent directors must commit to completing an internal investigation.
And we believe that shareholders and a highly interested general public are
owed full disclosure of the findings from such an investigation. Moreover,
given Coughlin’s allegations of a covert anti-union campaign inside the
company — whether true or not — we believe that the allegations speak
volumes about the managerial culture at the world’s largest corporation. With
this news, one thing is clear: Wal-Mart is truly no longer Sam Walton’s
company.”

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