Alibaba settles US shareholder class action lawsuit: denies any allegations, settlement only to avoid litigation costs and disruptions
On October 26, Alibaba Group announced that it has reached a settlement agreement regarding the previously disclosed putative shareholder collective lawsuit. The announcement stated that the settlement does not constitute an acknowledgment or recognition of any legitimate basis for the claims in the lawsuit. The company denies any allegations of wrongdoing, liability, misconduct, or harm, and the settlement is only reached to avoid the costs and disruptions of further litigation
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