Alibaba pays $433.5m to settle US monopoly lawsuit claims

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Alibaba has agreed to a US$433.5 million settlement in a US class-action lawsuit filed in federal court in Manhattan.

The lawsuit accused the company of monopolistic practices, which Alibaba has denied.

Filed in 2020, the lawsuit alleged that Alibaba required merchants to use only its platform. The company claims this did not violate any laws.

The settlement addresses claims by investors in Alibaba’s American depositary shares between November 2019 and December 2020.

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