Alibaba Group Holding Ltd. has agreed to pay $250 million to settle a lawsuit that claimed the e-commerce giant had failed to disclose meetings with the Chinese government regarding alleged counterfeit products before it went public. The class-action settlement’s terms named Alibaba and executives including co-founders Jack Ma and Joe Tsai, who denied all allegations of wrongdoing. It was …
A lawsuit filed by Alibaba Group Holding Ltd. is shining a light on the fake reviews and purchases on its websites. China’s biggest e-commerce operator sued Shatui.com, which allegedly links merchants with people willing to falsify purchases and write positive comments that can drive sellers up Alibaba’s rankings. The suit in Hangzhou West Lake District People’s Court is seeking 2.16 million …
A month ago, Yahoo announced that its board of directors had unanimously decided to suspend work on the pending plan announced earlier last year to spin off Yahoo’s remaining holdings in Alibaba. It said the board would now evaluate “alternative transaction structures to separate the Alibaba stake, focusing specifically on a reverse of the previously announced spin transaction.” It went on to …
A month ago, Yahoo announced that its board of directors had unanimously decided to suspend work on the pending plan announced earlier last year to spin off Yahoo’s remaining holdings in Alibaba. It said the board would now evaluate “alternative transaction structures to separate the Alibaba stake, focusing specifically on a reverse of the previously announced spin transaction.” It went on to …