US regulators focus on Alibaba's counterfeit concerns as class-action lawsuits launched
After China's SAIC alleges sale of fake goods, America's SEC seeks information
E-commerce giant Alibaba's trouble with mainland regulators over the alleged sale of fake goods has now got the attention of regulators in the United States.
The US Securities and Exchange Commission (SEC) had asked Alibaba to provide information regarding the company's recent run-in with the mainland's State Administration for Industry and Commerce (SAIC), Alibaba said in an announcement on Friday evening.
Alibaba, which did not give details of what the US commission is asking, said it was voluntarily disclosing the receipt of the SEC correspondence "because we value being open with our investors and feel that disclosure could help avoid false rumours or speculation".
It said the US regulator's letter stated it "should in no way be construed as Alibaba Group having done anything wrong or there having been any violation of securities law".
"We are cooperating with the SEC's request," Alibaba said.