Alibaba to Pay $433.5 Million to Settle U.S. Class-Action Lawsuit Alleging Monopolistic Practices

Oct 26, 2024, 04:01 AM

Alibaba has agreed to pay $433.5 million to settle a class-action lawsuit filed by investors in the United States. The lawsuit alleged that the e-commerce giant engaged in monopolistic practices. This settlement was announced on Friday, October 26, 2024, and marks a significant financial resolution for the company amid ongoing scrutiny over its business practices. The settlement amount reflects the seriousness of the allegations against Alibaba, which has faced increasing regulatory challenges both domestically and internationally.