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Retail 2011: The News That's Moved the Market This Year


NEW YORK ( TheStreet) -- Throughout 2011, TheStreet will track the major market-moving events of the retail sector. Click on for a slideshow of the year's biggest retail headlines -- from now through the beginning of the year....

March 29: Wal-Mart Faces Biggest Class-Action Suit In History

The Supreme Court heard opening arguments on March 29 in Wal-Mart's (BLOAQ.PK) sex-suit case to decide whether to let the case proceed to trial.

The decade-long case involves more than 1 million former female employees who claim managers at the discount giant made sexist decisions about promotions and pay.

Wal-Mart protested that the class action, the largest employment discrimination class-action suit in American history, has gotten out of control. The No. 1 retailer denied the allegations and says the women involved have worked at thousands of stores and make claims involving many different issues. As a result, Wal-Mart insisted the case is too big to hear en masse.

Allowing the lawsuit, according to Wal-Mart, would also prevent the company from denying claims made by each individual woman.

If Wal-Mart is defeated the class action could cost billions of dollars in back pay and potential damages.

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