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The New York Times reported that Wal-Mart allegedly failed to notify law enforcement after its own investigators found evidence that $24 million in bribes were funneled through its Mexican unit in exchange for speedier building permits and other favors. U.S. law forbids American companies from bribing foreign officials.
Glass Lewis's 900 clients include mainly institutional investors. It recommended they vote against seven out of more than a dozen board members up for re-election, including Christopher Williams, chairman and CEO of The Williams Capital Group and head of Wal-Mart's audit committee.
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