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Wal-Mart CEO Duke Defends Retailer Amid Bribery Probe

Wal-Mart Stores Inc. Chief Executive Officer Mike Duke told employees and shareholders at the company’s annual meeting today that the retailer, whose executives are accused of bribing Mexican officials, is committed to ethical behavior.

Speaking before 14,000 people in Fayetteville, Arkansas, Duke addressed an ongoing bribery investigation by the U.S. Justice Department and U.S. Securities and Exchange Commission. He said the world’s largest retailer was built by founder Sam Walton on a foundation of ethics and trust and will continue to behave that way. His comments followed similar statements by Rob Walton, the company’s chairman and son of the founder.