The Associated Press reports that Wal-Mart Stores Inc.'s German division is appealing a court ruling that it must open its financial books to show its earnings.
A court ruled that Wal-Mart had to show its financial statements when a service worker’s union, annoyed that Wal-Mart wouldn’t join the German collective wage bargaining system, charged that the company was violating German law.
Now, Wal-Mart has asked the German Supreme Court to stay the ruling until the European Court of Justice makes a decision on the larger disclosure issue.
“Like numerous other companies, Wal-Mart has great doubts about the legal validity of the law in question and the permissibility of the measures based in it,” the company said in a statement.
A court ruled that Wal-Mart had to show its financial statements when a service worker’s union, annoyed that Wal-Mart wouldn’t join the German collective wage bargaining system, charged that the company was violating German law.
Now, Wal-Mart has asked the German Supreme Court to stay the ruling until the European Court of Justice makes a decision on the larger disclosure issue.
“Like numerous other companies, Wal-Mart has great doubts about the legal validity of the law in question and the permissibility of the measures based in it,” the company said in a statement.
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