The lawsuits accused Alibaba of not disclosing before its 2014 IPO that officials had met with the Chinese government regarding alleged counterfeit products sold on its platforms
Alibaba Group Holding Ltd. has agreed to pay $250 million to resolve investors’ lawsuits that accused the company of not disclosing before its $25 billion initial public offering that officials had met with the Chinese government regarding alleged counterfeit products sold on its platforms.
Under the terms of the tentative settlement, which was granted initial approval in Manhattan federal court, Alibaba and executives named on the complaints, including company co-founders Jack Ma and Joe Tsai, deny all allegations of wrongdoing...
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