Alibaba in US$250 million settlement of lawsuit over regulatory meeting ahead of its 2014 IPO

//Alibaba in US$250 million settlement of lawsuit over regulatory meeting ahead of its 2014 IPO

Alibaba in US$250 million settlement of lawsuit over regulatory meeting ahead of its 2014 IPO

Alibaba Group Holding, China’s largest e-commerce services provider, has agreed to pay US$250 million to settle a US lawsuit over the company’s failure to disclose that its executives met with Chinese regulators to discuss counterfeit goods sold on its largest retail platform, several months before the firm went public in 2014.New York-traded Alibaba and its senior executives deny any wrongdoing in the settlement, which “does not constitute an admission or finding that the claims asserted has…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-04-30T12:00:13+00:00 April 30th, 2019|Technology|Comments Off on Alibaba in US$250 million settlement of lawsuit over regulatory meeting ahead of its 2014 IPO