{"id":8833,"date":"2012-05-23T15:46:59","date_gmt":"2012-05-23T19:46:59","guid":{"rendered":"http:\/\/sidebarforplaintiffs.naomifein.net\/?p=8833"},"modified":"2012-05-23T15:46:59","modified_gmt":"2012-05-23T19:46:59","slug":"why-the-wal-mart-corruption-case-is-important-to-me","status":"publish","type":"post","link":"https:\/\/sidebarforplaintiffs.naomifein.net\/?p=8833","title":{"rendered":"Why the Wal-Mart corruption case is important to me"},"content":{"rendered":"

Not just because I dislike Wal-Mart as the monster that ate downtown and gobbled up mom-and-pop shops, and because it sells junk and because it makes itself the only game in town, and convinces consumers that it’s the<\/em> place to shop.<\/p>\n

And now we learn that Wal-Mart executives have been bribing Mexican officials. So a major Wal-Mart shareholder, the California teachers retirement system (the same system, I believe, that brought down a manifestation of IBM), has sued “27 current and past executives of Wal-Mart Stores Inc., the world’s largest employer.” [That stat, alone, gives me flu-like symptoms.]<\/p>\n

But what really stops the shakes and gets my blood flowing is several paragraphs from the editorial:<\/p>\n

[The complaint] details the harm executives and directors caused to Wal-Mart and shareholders because of legal and ethical violations.<\/em><\/p>\n

In a shareholders action, a plaintiff has to establish one of two things: that the corporate officials acted out of their own self-interest rather than the company’s, or that the officials no longer deserve protection against liability under the so-called business judgment rule because of indefensible decisions they made.<\/em><\/p>\n

While this test was designed to make it hard for such lawsuits to proceed against a company’s officials, it leaves room for meritorious suits against misconduct. In this case, shareholders are right to demand answers and accountability from Wal-Mart’s executives and directors.<\/em><\/p>\n

Replace “Wal-Mart” with “the Board of Directors of the Little Crooked House Tenants Corp.” and you have my lawsuit described perfectly.<\/p>\n","protected":false},"excerpt":{"rendered":"

Not just because I dislike Wal-Mart as the monster that ate downtown and gobbled up mom-and-pop shops, and because it sells junk and because it makes itself the only game in town, and convinces consumers that it’s the place to … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[337],"tags":[79,41],"class_list":["post-8833","post","type-post","status-publish","format-standard","hentry","category-legal-news","tag-co-op-boards-of-directors","tag-legal-causes-of-action"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t