Alibaba agrees to a 3 billion yuan settlement! But denies any allegations!
Alibaba Group has reached a settlement agreement on a collective lawsuit with American shareholders!
Alibaba-W (09988.HK): Alibaba Group reached a settlement agreement in the shareholder collective lawsuit case.
Grondhui reported on October 27th that alibaba-W (09988.HK) announced that the company, together with current and former executives and directors, has reached a settlement agreement in the previously disclosed class action lawsuit titled In re: Alibaba Group Holding Ltd. Securities Litigation, No. 1:20-cv-09568-GBD-JW (S.D.N.Y.). Under the agreement, they agreed to pay 0.4335 billion dollars to settle the aforementioned case.
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Alibaba Denies Any Allegations of Fault, Liability, Wrongdoing or Damages
Alibaba Agrees to Pay $433.5M