Beijing News (reporter Zhao Jiani Liu Suhong) the State Administration for Industry and commerce "white paper" after the announcement, the Alibaba group on suspicion of "concealing the investigation by the regulatory authorities", was the collective action in the United States, there are 7 firms involved. Some lawyers believe that after SAIC white paper can still make evidence.
7 American firms have been involved in the investigation of
since January 27th, the official Taobao micro-blog questioned the Administration for Industry and Commerce sampling results, extensive attention has been paid to the Alibaba and the Administration for Industry and Commerce of the "play" come to an end, however, the Alibaba also face more trouble.
according to foreign media reports yesterday, Alibaba was a class action lawsuit in the United States, was accused of misleading statements issued and concealed by the regulatory investigation. The United States Geller Rudman & Dowd’s Robbins; LLP announced on Friday on suspicion of violating Securities Law on the grounds that the Alibaba and some executives told the New York federal court.
the firm believes that the Alibaba before listing, company executives have a meeting with officials of the State Administration for Industry and Commerce China, regulators proposed the company may have illegal business practices, but the Alibaba did not disclose relevant information. In the record of the General Administration of industry and commerce, referring to Ali’s Taobao sales of counterfeit and other issues. According to foreign media reports, there are 7 American firms that will be involved in the investigation.
foreign media quoted a spokesman for the Alibaba responded that: Alibaba believes that the allegations in the lawsuit the lack of legal basis, the company will actively defend." Ali group, the relevant person in charge of the Beijing News reporter yesterday, said the company did not make any statement on the above events.
recently, in 2014 the United States listed Alibaba shares hit. Alibaba issue price of $68, listed on the first day opening price of up to $92.7. January 26, 2015 closing price of $103.99, to January 30th, the closing price of $89.08, the total market value of the four trading days evaporated about $36 billion 753 million.
lawyer said SAIC has no right to determine the white paper effect
January 28th, the State Administration for Industry and Commerce has announced a Alibaba group administrative guidance of the white paper, said the existence of 5 major problems Alibaba. However, in January 30th, the State Administration for Industry and commerce, said the white paper is the essence of the administrative guidance of the forum record, does not have legal effect. Zhang Mao, director of the State Administration for Industry and commerce, met with Chairman of the board of directors of Alibaba,, the two sides agreed to jointly fight against fakes, safeguard the interests of consumers.
Chinese lawyer Hao Junbo on January 30th publicly released Alibaba investor class action order. Hao Junbo told reporters yesterday on the Beijing News, the State Administration for Industry and Commerce has the right to determine the "white paper" has no legal effect, the core issue is whether the problem is the fact that Taobao selling etc.. He believes that Ali alleged not to disclose adverse information to investors".
according to Hao Junbo introduction, the current lawyer