Wal-Mart suspected of spying on shareholders

New York City's multibillion-dollar public pension fund demanded today that Wal-Mart turn over records dating back to 2002 to show whether it spied on shareholders who submitted policy proposals during annual meetings.

Wal-Mart has denied allegations by a fired former security operative that it snooped on investors. But New York City Comptroller William Thompson said he has "a credible basis" to believe Wal-Mart Stores Inc. conducted surveillance, investigations or "threat assessments" of shareholders.

Thompson, who runs New York public pension funds with more than $360 million in Wal-Mart shares sent Wal-Mart a letter demanding the release of corporate documents and records.

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