Biz Buzz
By Jim Martin, Doug Oathout Erie Times-News staff bloggers
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Posted: April 23rd, 2012
Wal-Mart stock hammered after bribery allegations

Wal-Mart’s stock is getting hammered today as news continues to filter out about the company’s alleged bribery campaign in Mexico.

As of 1:30 p.m., the stock was down 4.7 percent, or $2.95 a share. The stock was trading at $59.50.

The New York Times on Sunday reported about an alleged bribery campaign involving top executives at a Mexican subsidiary. The retailer said it was investigating for any breach of the U.S Foreign Corrupt Practices Act.

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