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Alibaba to Pay $433.5 Million to Settle Shareholder Lawsuit Over Monopoly Claims

Oct 26, 2024, 04:05 AM

Alibaba has agreed to pay $433.5 million to settle a U.S. class-action lawsuit filed by shareholders on Friday. The lawsuit alleged that the Chinese e-commerce giant engaged in monopolistic practices. The settlement aims to resolve claims of unfair competition and restore investor confidence.