Walmart Finally Settles for $282M and a Monitor

After more than seven years and $900 million in investigation costs, Walmart struck a deal with the DOJ and SEC to resolve charges that it violated the FCPA’s accounting provisions in Mexico, China, India and Brazil. The world’s largest retailer will pay $282 million and retain a monitor. In this article series, we analyzed this monumental case and share insight from top practitioners, including former senior DOJ officials Mark Mendelsohn and Fry Wernick. The first article examines the facts of the case and the enforcement approach; the second article looks at how Walmart’s failures played into the settlement and extract compliance lessons from those failures; and the third article addresses additional features of the landmark resolution, including the lack of anti-bribery charges, the insufficient self-report, the partial cooperation credit Walmart received and what the case signals about upcoming enforcement. We also compared each provision of the Walmart agreement to the monitor agreement included in the recent Fresenius settlement.

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