Chinese e-commerce giant Alibaba has revealed that the US Securities and Exchange Commission is looking into recent communications with Chinese regulators. The group issued a statement saying it had received correspondence from the SEC 'asking for background facts and other information related to our interaction with one of our Chinese regulators, the SAIC, and related matters.'
Discussed claims
The move follows the removal by the State Administration for Industry and Commerce (SIAC) of a 'white paper' revealing it had met with Alibaba to discuss claims about counterfeit goods being sold on the Taobao website. US investors are suing over the paper alleging that the company did not disclose these risk factors to investors before its $25 billion flotation last September. The company refutes the SAIC allegations saying that it did not believe the methodology was fair.
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