Coughlin Seeks Wal-Mart Suit Dismissal
BENTONVILLE, Ark. -- Tom Coughlin, the former vice chairman for Wal-Mart Stores, Inc., asked a Benton County Circuit Judge yesterday to dismiss a lawsuit by his former employer, the world's largest retailer, on the basis that he had an existing agreement with the company that it would not take any punitive action against him after he retired.
The judge is expected to make a decision whether to allow the lawsuit, which was filed this summer, in two weeks. Wal-Mart sued Coughlin for allegedly misappropriating hundreds of thousands of dollars to benefit himself. Coughlin, who retired from the company in January, remained on its board of directors until March, when the company disclosed the allegation.
A federal grand jury is in the process of investigating the allegation.
The judge is expected to make a decision whether to allow the lawsuit, which was filed this summer, in two weeks. Wal-Mart sued Coughlin for allegedly misappropriating hundreds of thousands of dollars to benefit himself. Coughlin, who retired from the company in January, remained on its board of directors until March, when the company disclosed the allegation.
A federal grand jury is in the process of investigating the allegation.