NEW YORK, April 12, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Wal-Mart de Mexico SAB de CV ("Wal-Mart de Mexico" or the "Company") who purchased Wal-Mart de Mexico common stock between February 21, 2012 and April 22, 2012 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Wal-Mart de Mexico and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 22, 2012, The New York Times published an article concerning bribes made by the Company beginning as early as 2005. According to the article Wal-Mart de Mexico spent more than $24 million in bribes. The article further alleged that Wal-Mart de Mexico executives knew about the payments and actively took steps to conceal them. Upon this news announcement, shares of Wal-Mart de Mexico fell $4.31 or 13% to close at $28.66 per share on April 23, 2012.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP email@example.comSource:Pomerantz Grossman Hufford Dahlstrom & Gross LLP