These 2 Dow 30 Stocks are Happy with Today’s Trading
The Dow is up by 0.81 percent Tuesday, and currently stands at 13,321. Here are some interesting legal issues affecting these DJIA stocks.
Hewlett-Packard Company (NYSE:HPQ): The Justice Department says that Korean-based Hitachi-LG Data Storage (NYSE:HIT) Senior Sales Manager Woo Jin Yang, A.K.A. Eugene Yang, has agreed to plead guilty and to serve time in a U.S. prison, for his involvement in a series of conspiracies to rig bids for the sale of optical disk drives. A four-count felony charge was filed Tuesday in the U.S. District Court for the Northern District of California in San Francisco, which alleges that Yang conspired with others to suppress and eliminate competition through the rigging of bids for optical disk drives that were sold to Hewlett-Packard.
Wal-Mart Stores Inc. (NYSE:WMT): The alleged bribery and coverup charges against Wal-Mart in Mexico could tarnish the efforts of the U.S. Chamber of Commerce and others to restrict the power of the Foreign Corrupt Practices Act, says the The New York Times. Further, the report says that the allegations originating in Mexico could induce prosecutors to toughen up in similar cases.
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