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The suit also names Eduardo Castro-Wright, who is retiring this month as vice chairman but is not on the company's board. Castro-Wright led Wal-Mart's Mexico division at the time of the alleged bribery and when the probe began in 2005. In early May, the New York City Pension Funds urged shareholders to vote at the company's annual meeting on June 1 against the re-electing Duke and four other board members because of the bribery allegations in Mexico. All members kept their seats. But Monday's lawsuit by the New York City Pension Funds comes a week after a final shareholder tally showed discontent rising against key executives and board members, including Duke, over the bribery allegations. All of the company's nominees were re-elected. But the rise in votes against key leaders underscores how the bribery case could distract the world's largest retailer as it tries to continue its sales momentum in the U.S. and overseas Tovar reiterated on Monday that Wal-Mart is committed to a "full and independent investigation." "A thorough investigation will take time and we are in the early stages. It would be inappropriate for us or others to come to conclusions before the investigation is complete," Tovar said.
[Associated
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