CalSTRS Files Suit Against Wal-Mart Officials

The Teachers' Retirement Board, the governing body of CalSTRS, today took legal action on behalf of Wal-Mart against current and former Wal-Mart board members. The derivative action lawsuit alleges bribery and a subsequent cover-up in the corporation's Mexico expansion. A derivativeaction is alawsuit brought by a shareholder on behalf of a corporation against a third party. The shareholder in this case, CalSTRS, is suing current and former executives and board members of Wal-Mart.