Alibaba Group announced a settlement on Friday (October 25) and agreed to pay $ 433.5 billion (S $ 573 million) for monopoly lawsuits.
According to Reuters, the collective lawsuit filed by investors in 2020 accused Alibaba to make monopoly.
Alibaba denies improper behaviors and issued a announcement issued by the official website of the US Securities and Exchange Commission that reaching a settlement is to avoid the costs and interference of further litigation.
Reuters also reported that the settlement agreement covers investors holding Alibaba US deposit stocks from November 13, 2019 to December 23, 2020, and resolved the market in the market aware of AlibabaWhen a misleading statement and a decline in the stock price, investors suffer from losses.
