Alibaba: SEC seeking information on fight over fake goods
Pic: AP.
WASHINGTON (AP) — E-commerce giant Alibaba says that U.S. regulators have requested information on Chinese authorities’ allegations that the company has failed to do enough to prevent fake goods from being sold on its websites.
Alibaba said Friday it is cooperating with the request from the U.S. Securities and Exchange Commission. Alibaba, which raised a record $25 billion last year in its initial sale of stock in the U.S., said the SEC is seeking information related to the company’s interactions with Chinese regulators.
China-based Alibaba Group Holding Ltd. has disputed the allegations, firing back at the Chinese regulators with charges of bias and misconduct.
The company says the SEC’s letter states that its inquiries should not be seen as indicating Alibaba has violated any U.S. securities law.
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