On October 25th local time in the United States, Alibaba Group announced that it has agreed to pay $433.5 million (approximately 3.087 billion yuan) to settle a class action lawsuit filed by investors in the United States.
The lawsuit accuses Alibaba of monopolistic behavior, but Alibaba denies any wrongdoing and emphasizes that the settlement is only to avoid the costs and interference of further litigation.
Alibaba was sued by US stock investors in 2020, claiming that it did not violate antitrust or unfair competition laws despite demanding merchants to choose between two options.