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BENTONVILLE, Ark. (AP) -- Wal-Mart's board of directors should open an independent investigation of claims the retailer spied on shareholders, suppliers and others, a large state investor said Friday.
William Atwood, the executive director of the Illinois State Board of Investment, said Wal-Mart's board could have avoided the surveillance scandal if it had not rebuffed a proposal from a group of large investors in 2005 to name an independent committee to review company policies.