Tension and opposition against Wal-Mart Stores Inc. continues to brew over the retail giant’s bribery scandal recently exposed in it’s Mexican subsidiary.
Monday (May 1) John Liu, comptroller and trustee of New York City pension funds, said his group has invested more than $250 million in Wal-Mart shares and will cast 4.7 million votes against five of company’s directors up for re-election.
“What happened in Mexico is disturbing and these serious allegations could be detrimental to the stock’s long-term value,” Liu said during an interview on CNBC Squawk on the Street. Click here to read the full story from our partners at TheCityWire.com.