New York Judge Approves Alibaba’s $433.5 Million Settlement in Investor Misleading Case

In a significant legal development, a New York federal judge has granted final approval to Alibaba Group’s $433.5 million settlement with investors. This settlement resolves claims that Alibaba misled investors concerning its exclusivity practices and the initial public offering of its fintech affiliate. In this case, the investors’ attorneys were awarded 25% of the settlement sum, equating to approximately $108 million. More details on the settlement and the judge’s approval can be found in the original report by Law360.