Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From Investment in Wal-Mart de Mexico SAB de CV to Inqu
15 April 2013 - 11:28PM
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of purchasers
of the American Depositary Shares ("ADRs") of Wal-Mart de Mexico
SAB de CV ("Wal-Mart de Mexico" or the "Company") (OTC:WMMVY)
during the period between February 21, 2012 and April 22, 2012,
inclusive (the "Class Period").
If you have suffered a net loss from investment in Wal-Mart de
Mexico SAB de CV ADRs purchased on or after February 21, 2012, and
held through April 22, 2012, you may obtain additional information
about this lawsuit and your ability to become a lead plaintiff by
contacting Brower Piven at www.browerpiven.com, by email at
hoffman@browerpiven.com, by calling 410/415-6616, or at Brower
Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson,
Maryland 21153. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than June 4, 2013 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants'
failure to disclose during the Class Period Wal-Mart de Mexico's
involvement in a bribery scheme. According to the Complaint,
following an April 22, 2012 article in the New York Times that
reported that Wal-Mart de Mexico had spent more than $24 million in
bribes, and that Wal-Mart de Mexico executives knew about the
bribery payments and actively took steps to conceal them, the value
of Wal-Mart de Mexico ADRs declined significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
hoffman@browerpiven.com
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