CalSTRS says Wal-Mart top leadership in question

(Reuters) - The second largest U.S.

(Reuters) - The second-largest U.S.

(Reuters) - The second largest U.S.

SAN FRANCISCO (Reuters) - The second largest U.S. public pension fund said on Thursday it had sued current and former executives and board members at Wal-Mart Stores Inc, alleging bribery and a cover-up in the company's expansion in Mexico. The $153 billion California State Teachers' Retirement System (CalSTRS), which holds more than 5.3 million shares of Wal-Mart Stores Inc, said in a statement it had filed the derivative lawsuit in Delaware on behalf of the company. ...

CEO of the California State Teachers' Retirement System cites 'a breakdown of corporate governance and lack of oversight' in the wake of bribery allegations in Mexico.SACRAMENTO — The California State Teachers' Retirement System will cast its 5.3 million shares of Wal-Mart Stores Inc.

The second largest U.S. public pension fund said that allegations of bribery in Mexico and a cover up by top management at Wal-Mart raises the question of whether top leadership should remain in place.