Walmart (NYSE: WMT) is picking up the tab for legal fees for dozens of company execs at the center of a foreign corruption investigation. The U.S. Department of Justice opened the examination after suspecting that Walmart executives staged a cover up to prevent officials from uncovering bribes made in Mexico to obtain permits for new stores there. The company is also under investigation for similar claims in Brazil, China and India.
Over 30 Walmart executives have been involved in the allegations, with several of them being questioned by the U.S. government in recent months. The investigation reportedly prompted company employees to hire their own lawyers. While it is common for companies in bribery investigations to cover executives' legal costs, analysts say that the large number of executives involved in this case makes it unusual.
According to Reuters, unnamed sources close to the matter revealed the payment arrangement. Walmart also confirmed that it is footing the legal bills but the company declined to give any specifics.
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