Alibaba Says Has Received Request For Information From U.S. SEC

Alibaba Group Holding Ltd. said Friday it has received correspondence from the U.S. Securities and Exchange Commission, seeking background facts and other information related to its interaction with the Chinese regulator, the SAIC. The Chinese e-commerce company said it is cooperating with the SEC's request. "Although Alibaba Group has no obligation to disclose the receipt of the SEC correspondence, we have chosen to proactively disclose the request because we value being open with our investors and feel that disclosure could help avoid false rumors or speculation," the company said in a statement. Alibaba has been engaged in a public dispute with the SAIC over a white paper it published, lambasting the company for failing to do enough to combat the sale of fake goods on its sites, as well as dealing with bribery and other illegal activities. Shares edged down 0.9% in after-hours trade.

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