Alibaba Agrees To $433.5M Settlement In Shareholder Class Action Lawsuit
Portfolio Pulse from Navdeep Yadav
Alibaba Group has agreed to a $433.5 million settlement in a shareholder class-action lawsuit alleging misleading statements about its exclusivity practices. The lawsuit accused Alibaba of violating federal securities laws, leading to artificial inflation of its stock price. The settlement is subject to court approval.
October 26, 2024 | 4:22 am
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Alibaba has agreed to a $433.5 million settlement in a class-action lawsuit alleging misleading statements about its exclusivity practices. The settlement aims to avoid further litigation costs and disruptions.
The settlement of $433.5 million is a significant financial outlay for Alibaba, which could negatively impact its stock price in the short term. The lawsuit's allegations of misleading statements and exclusivity practices may also affect investor sentiment.
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