Wal-Mart to Settle Pricing Complaint
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Wal-Mart Stores Inc. has agreed to comply with Wisconsin’s fair pricing law to settle a complaint the state filed last year alleging the retail giant was selling some items below cost to drive out competitors.
The Bentonville, Ark.-based company did not admit any wrongdoing and will not pay a penalty. But if the company violates the agreement in the next year, it could pay double and triple the regular fines.
Wal-Mart also will make a $15,000 donation to a high school consumer education contest--the cost of the state’s investigation.
The company operates 74 Wal-Mart and Sam’s Club stores in Wisconsin, employing nearly 21,000 people.
Wal-Mart shares fell $1.40 to close at $52.20 on the NYSE.
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