It's sort of like finding out that Britney Spears is moving into a convent -- You're happy that she's taking steps to get her life together, but you'll miss the salacious headlines.
Wal-Mart (NYSE: WMT) and the ad executive who was too sexy for the retailer have agreed to drop their lawsuits against each other. Roehm was fired last year after the company accused her of using company resources to carry on an affair with a subordinate and accepting gifts from suppliers. Roehm sued for wrongful termination and, somehow, Irwin Jacobs also got dragged in when Roehm accused CEO Lee Scott of getting good deals on jewelry from the former raider.
Under the terms of the settlement, Roehm will drop her lawsuit against Wal-Mart, Wal-Mart will drop its suit and Roehm, and Peltz will drop his defamation suit against Roehm. Roehm says Wal-Mart did not give her any money.
It looks like this Wal-Mart soap opera is over. Now we can get back to focusing on the company's sagging stock price, lagging same-store sales, image problems, etc.
Wal-Mart and Julie Roehm end legal battle
Posted Nov 5th 2007 11:00AM by Zac Bissonnette
Filed under: Newspapers, Wal-Mart (WMT), Marketing and advertising, Employees, Scandals
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