×
52
Fashion Jobs
H&M
Security/ Compliance Manager
Permanent · HO CHI MINH CITY
H&M
Area Manager - Vietnam
Permanent ·
L'OREAL GROUP
Key Account Executive - Modern Trade
Permanent · Ho Chi Minh City
PUMA
Assistant Manager Development Fabric Apparel
Permanent · Ho Chi Minh City
L'OREAL GROUP
Online Brand Manager - Vichy & la Roche Posay
Permanent · Ho Chi Minh City
L'OREAL GROUP
Social Manager - Consumer Product Division
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Social Manager
Permanent · Ho Chi Minh City
PUMA
Assistant Colorist Apparel - Temporary
Fixed-term · Ho Chi Minh City
UNDER ARMOUR
Lead, Lab Manager - Footwear
Permanent · HO CHI MINH CITY
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Crescent Mall
Permanent · HO CHI MINH CITY
H&M
3pl Business Expert - Warehouse Operations
Permanent · BIEN HOA
H&M
Distribution Center Manager
Permanent · BIEN HOA
H&M
Store Department Manager (Quản lý Ngành Hàng Tại Cửa Hàng) - đà Nẵng Based
Permanent ·
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
H&M
Department Manager (Quản lý Ngành Hàng) - Khu Vực Ocean Park Gia Lâm
Permanent · HANOI
H&M
3pl Business Expert - Allocation
Permanent · BIEN HOA
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Vincom Times City
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Tại Vincom Plaza hạ Long
Permanent · HẠ LONG
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Times City
Permanent · HANOI
H&M
Visual Merchandiser (Phụ Trách Trưng Bày Làm Việc Tại Cửa Hàng) - hồ Chí Minh Based
Permanent · HO CHI MINH CITY
H&M
Nhân Viên tư Vấn Bán Hàng Khu Vực Royal City - hà Nội (Bán Thời Gian và Toàn Thời Gian)
Permanent · HANOI
By
Reuters API
Published
Apr 29, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba pays $250 million to settle lawsuit over pre-IPO counterfeiting warning

By
Reuters API
Published
Apr 29, 2019

Alibaba Group Holding Ltd said on Monday it will pay $250 million (£193 million) to settle a U.S. lawsuit faulting the Chinese e-commerce company for concealing a regulatory warning about its ability to stop counterfeiting before it went public in 2014.


Reuters


The lawsuit accused Alibaba of securities fraud for failing to disclose it had met with China's State Administration for Industry and Commerce on July 16, 2014, two months before the company's $25 billion initial public offering.

Alibaba's American Depositary Shares fell 12.8 percent on Jan. 28 and 29, 2015 after the SAIC issued a white paper based on concerns raised at the meeting, saying many products sold on Alibaba websites were fake or infringed trademarks.

The white paper also said the SAIC delayed releasing its findings so the IPO would not be affected.

While the white paper was later withdrawn, seven proposed U.S. class-action lawsuits were filed on behalf of ADS investors over the share price decline, before being consolidated.

Alibaba said it did not admit wrongdoing in agreeing to the settlement, which requires court approval.

Settlement papers were not immediately available. The investors' lawyers did not immediately respond to requests for comment.

Alibaba has long faced accusations that its online platforms are a haven for counterfeiters, including in lawsuits by luxury brands such as Gucci and Yves Saint Laurent.

Companies including Alibaba, Amazon.com Inc and eBay Inc have policies banning counterfeiting, and highlighted their investments to thwart the practice.

On April 3, U.S. President Donald Trump ordered a crackdown on online counterfeiting, saying global transactions in fake and pirated goods could reach $500 billion annually.

The settlement covers investors in Alibaba ADS and ADS stock options from Sept. 19, 2014 through Jan. 29, 2015. The lead plaintiffs are Christine Asia Co and William Tai.

The case is In re Alibaba Group Holding Limited Securities Litigation, U.S. District Court, Southern District of New York, No. 15-md-02631.

© Thomson Reuters 2022 All rights reserved.