NY seeks Wal-Mart records on alleged surveillance (Reuters)

NY seeks Wal-Mart records on alleged surveillance

13 minutes ago

NEW YORK (Reuters) - The New York City Comptroller on Tuesday
demanded Wal-Mart Stores Inc. (NYSE:WMT) records dating from 2002
to determine whether the retailer performed illegal surveillance on
shareholders who submitted proxy petitions.

In a letter to Wal-Mart Corporate Secretary Thomas Hyde dated June 21,
Comptroller William Thompson said he has "a credible basis to believe
that certain employees, directors or agents of Wal-Mart have improperly
expended corporate assets in connection with conducting surveillance,
investigations or 'threat assessments' of proponents of shareholder
proposals."

Wal-Mart spokesman John Simley said that since the company received
the comptroller's letter late on Friday, it still needed time to read it.

-snip-

As noted in Thompson's letter, news of the alleged surveillance was first
reported on April 4 by the Wall Street Journal. On April 20, Wal-Mart sent
shareholders a letter saying it had conducted a "lengthy internal
investigation" and denied the surveillance had occurred, Thompson
recounted.

-snip-