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Wal-Mart settles suit against exec

August 22, 2008|From the Associated Press

LITTLE ROCK, ARK. — Wal-Mart Stores Inc. has settled a lawsuit it brought against disgraced former executive Tom Coughlin to void his multimillion-dollar retirement package.

Court officials said the terms of the settlement between Coughlin and the Bentonville, Ark.-based company would be sealed for 20 days.

The case was settled shortly before jury selection was to begin Thursday afternoon.

Coughlin retired from the company as vice chairman in 2005. In 2006, he admitted defrauding the company to pay for the care of his hunting dogs, lease a hunting area, upgrade his pickup truck, buy liquor and receive $3,100 in cash.

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