Alibaba-W announced that it has reached a settlement agreement with current and former executives and directors to resolve the shareholder class action lawsuit titled In re: Alibaba Group Holding Ltd. Securities Litigation. Under the agreement, Alibaba has agreed to pay $433.5 million, and all defendants will receive a full waiver of claims made in the lawsuit
According to the news from Zhitong Finance and Economics APP, Alibaba-W (09988) announced that the company, along with current and former executives and directors, has reached a settlement agreement on 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, the group has agreed to pay $433.5 million to settle the aforementioned case, and all defendants receive a full waiver of all claims made in the lawsuit