Alibaba Group has agreed to pay $433.5 million (approximately RMB 3.087 billion) to settle a class action lawsuit filed by its merged shareholders, as stated in a document submitted to the US Securities and Exchange Commission on October 25th local time. Alibaba denies any allegations of negligence, liability, misconduct, or damage, stating that the settlement is "aimed at avoiding the cost and interference of further litigation. This class action lawsuit was filed in March 2023 in the United States Federal District Court for the Southern District of New York, accusing Alibaba of "violating federal securities laws by making multiple false statements regarding its antitrust and exclusivity practices, artificially inflating its stock price, and ultimately causing economic losses to investors.