Authorities Probe Insider Trading at Wal-Mart's Japan Unit: Report

Authorities in Japan will investigate allegations of insider trading involving Seiyu, the Japanese unit of Wal-Mart Stores (WMT).

The country's Securities and Exchange Surveillance Commission and Tokyo district prosecutors will pursue an insider trading case against the husband of a former member of the Seiyu board, Dow Jones said, citing a report in the Japanese media.

The husband allegedly used information from his spouse to make at least 7 million yen ($83, 775) through stock transactions.

Wal-Mart bought out the minority stake in Seiyu in 2007. The U.S. company already had majority control.

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Does anyone else remember when Walmart would advertise how many jobs they had created in the USA? The only jobs they are creating today in in China.

November 30 2010 at 9:09 PM Report abuse rate up rate down Reply