A derivative action by Wal-Mart shareholders stemming from the alleged bribery of Mexican officials has been dismissed by the Delaware Court of Chancery because a demand upon directors before filing the lawsuit would not have been futile, Chancellor Andre G. Bouchard wrote in an opinion Friday.
In the case, captioned In re Wal-Mart Stores Delaware Derivative Litigation, Bouchard concluded under Arkansas law a previous ruling in Arkansas that such a demand would not have been futile precluded further litigation.
