Former Wal-Mart Exec Asks Court To Dismiss Suit

August 17, 2005 ( - Wal-Mart Stores former vice-chairman Thomas Coughlin has requested that a court dismiss the suit filed against him by the store that would put a halt to his multi-million dollar retirement package.

Forbes reports that Coughlin’s attorneys say Wal-Mart made an agreement with the executive upon his retirement that bars the company from pursuing him for “any and all liability for claims, causes of actions, demands, damages, attorney fees, expenses, compensation or other costs or losses of any nature.”   The attorneys contend that Wal-Mart cannot sue Coughlin based on this agreement.

The Associated Press reported that Wal-Mart disclosed in a filing with the Securities and Exchange Commission that it was terminating Coughlin retroactively for gross misconduct, according to Forbes.   Coughlin was accused of misspending company money.

In the lawsuit filed by the company in March the company said its policy allows it to seek forfeiture of retirement benefits for employees accused of engaging in gross misconduct. A spokeswoman for Wal-Mart told the AP it has not yet thoroughly reviewed Coughlin’s request, Forbes reports.