Wal-Mart Ex-Officer Wins Dismissal of Suit
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An Arkansas judge threw out Wal-Mart Stores Inc.’s fraud suit against Thomas M. Coughlin, its former vice chairman, ruling that the company waived its right to sue him as part of a retirement agreement last year when Coughlin quit.
Circuit Judge Jay Finch in Bentonville, Ark., where Wal-Mart is based, rejected the company’s claims that Coughlin, 56, fraudulently persuaded the company to sign a retirement agreement under which the two sides released potential claims against each other.
After Coughlin left, a company probe turned up hundreds of thousands of dollars in alleged thefts, Wal-Mart said. Coughlin is scheduled to plead guilty Jan. 31 to related criminal charges.
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