$624-Million Award in Wal-Mart Lawsuit
From Times Wire Reports
A jury awarded a Mexican company $624 million in a lawsuit charging that retailing giant Wal-Mart Stores Inc. and a Texas subsidiary broke a deal to distribute groceries in Mexico. The jury, which reached its verdict Friday, was to return Monday to determine if the defendants were also liable for punitive damages, a San Antonio paper reported. In the lawsuit, Valores Corp. of Mexico said Wal-Mart and its McLane Co. unit of Temple, Texas, backed out of a 1991 deal to partner in a wholesale grocery distribution operation because of pressure from a Valores competitor. It charged that CIFRA, Mexico’s largest retailer, questioned the deal because of its own agreement with Wal-Mart to open Sam’s Club stores in Mexico.
