Update: Walmart responds to bribery allegations.
Walmart stock fell nearly five percent to $59.42 on Monday after The New York Times reported that the company tried to cover up evidence of widespread bribery in its Mexican operations. Meanwhile, the Justice Department and the Securities and Exchange Commission have opened probes into the retail giant. As investigations proceed, Wal-Mart must weigh what legal, business, and publicity strategies are open to it. Charles Fishman, author of "The Wal-Mart Effect," recently moved to Mexico City with his wife. Peter J. Henning, professor at Wayne State University Law School, focuses on white collar crime, corporate and securities law and legal ethics.