State biotechnology summit Wednesday

Statewide leaders in the biosciences and biotechnology will gather in Spokane on Wednesday at a “leadership summit” hosted by the Washington Biotechnology and Biomedical Association.

The event is free but requires registration through the WBBA website, Washbio.org.

It runs 11:30 a.m.-6:30 p.m. at the Riverpoint campus Academic Center, 412 E. Spokane Falls Blvd.

The sessions will bring together business leaders, state officials and investors in life science industries to encourage more alliances and partnerships across the state.

Keynote speaker will be Tom Fritz, the CEO of Spokane’s Inland Northwest Health Services. Others scheduled to present are John DesRosier, program director for the Life Sciences Discovery Fund; and David Flowers, director of business development for Jubilant HollisterStier.

New York City pension funds sue Wal-Mart

NEW YORK – A group of New York City pension funds is suing current and former Wal-Mart executives, saying they mishandled an alleged bribery scheme at the world’s largest retailer.

The group filed a lawsuit on Monday in the Chancery Court of Delaware on behalf of the company against the executives.

The goal in such cases, known as “derivative actions,” is to change the way a company is run. As with other derivative actions, the plaintiffs plan to give Wal-Mart any fines or other financial damages won through the lawsuit. The pension funds own 5.6 million shares of Wal-Mart Stores Inc.

This is the latest of at least a dozen such lawsuits filed against Wal-Mart since the New York Times reported in April that Wal-Mart’s Mexican unit allegedly paid millions of dollars in bribes.