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Regulator releases damning report on Alibaba over fake, substandard goods on Taobao
- Thread starter Hypocrisy
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Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Regulator vows to be bold but prudent after spat with Alibaba
Industry and commerce agency says investigations will be bold but prudent as it tussles with the online giant over counterfeits claim
PUBLISHED : Thursday, 05 February, 2015, 11:56am
UPDATED : Friday, 06 February, 2015, 3:09am
Laura Zhou and Teddy Ng
The regulator said products sold through online platforms would be intensified. Photo: Bloomberg
The government regulator at the centre of a public spat with Alibaba over the sale of fake goods has told its officials to be bold in their investigation but to avoid provoking trouble.
Ma Zhengqi, a deputy chief at the State Administration for Industry and Commerce (SAIC), made the remarks during a video conference call on consumer rights protection, after a war of words erupted between the administration and the e-commerce giant.
Without naming specific companies, Ma said: "As long as it's in accordance with the law, we should be prudent, targeted yet decisive in our crackdowns.
"We should not provoke trouble, but neither shy away from trouble," he was quoted by The Beijing News as saying. Ma said his department would launch random quality checks on products, including mobile phones, clothes, toys and electric bicycles, being offered in stores and online. Shops selling substandard products would be invited for talks, but punishments would be imposed if the shops refused to address the problem, he said.
"We should focus on illegal behaviour that damages the interests of consumers, and be strict in exercising the laws," Ma said. "At the same time, checks against products sold through online platforms will be intensified."
The SAIC sparked a public row with Alibaba last month after it released a white paper that accused Taobao, a retail subsidiary of Alibaba, of allowing a high number of counterfeit and substandard goods to be sold through its online platform. Alibaba hit back, with executive vice-chairman Joe Tsai dismissing the paper as "flawed" and threatening to make a formal complaint. The company said SAIC director Liu Hongliang had made public the paper without giving online shop owners a chance to respond to the claims.
The spat wiped nearly US$30 billion of market capitalisation from the US-listed company and threatened to take billions off its brand value.
The claims might also make the firm vulnerable to US shareholder lawsuits and punitive action by American regulators if Alibaba was found to have known of the SAIC's investigation of Taobao before its IPO in September.
But the confrontation eased slightly last week with SAIC saying the paper had no legal force and was only intended for "internal reference" - a statement that could head off possible shareholder lawsuits. In a meeting between Alibaba chairman Jack Ma and SAIC minister Zhang Mao last Friday, Ma vowed to "actively cooperate with the government and devote more capital" to weeding out fake goods.
Last month, Millward Brown and WPP, the world's largest communication services group, ranked Alibaba as the second most valuable Chinese brand in 2015 with a brand value of US$59.68 billion.
Regulator vows to be bold but prudent after spat with Alibaba
Industry and commerce agency says investigations will be bold but prudent as it tussles with the online giant over counterfeits claim
PUBLISHED : Thursday, 05 February, 2015, 11:56am
UPDATED : Friday, 06 February, 2015, 3:09am
Laura Zhou and Teddy Ng
The regulator said products sold through online platforms would be intensified. Photo: Bloomberg
The government regulator at the centre of a public spat with Alibaba over the sale of fake goods has told its officials to be bold in their investigation but to avoid provoking trouble.
Ma Zhengqi, a deputy chief at the State Administration for Industry and Commerce (SAIC), made the remarks during a video conference call on consumer rights protection, after a war of words erupted between the administration and the e-commerce giant.
Without naming specific companies, Ma said: "As long as it's in accordance with the law, we should be prudent, targeted yet decisive in our crackdowns.
"We should not provoke trouble, but neither shy away from trouble," he was quoted by The Beijing News as saying. Ma said his department would launch random quality checks on products, including mobile phones, clothes, toys and electric bicycles, being offered in stores and online. Shops selling substandard products would be invited for talks, but punishments would be imposed if the shops refused to address the problem, he said.
"We should focus on illegal behaviour that damages the interests of consumers, and be strict in exercising the laws," Ma said. "At the same time, checks against products sold through online platforms will be intensified."
The SAIC sparked a public row with Alibaba last month after it released a white paper that accused Taobao, a retail subsidiary of Alibaba, of allowing a high number of counterfeit and substandard goods to be sold through its online platform. Alibaba hit back, with executive vice-chairman Joe Tsai dismissing the paper as "flawed" and threatening to make a formal complaint. The company said SAIC director Liu Hongliang had made public the paper without giving online shop owners a chance to respond to the claims.
The spat wiped nearly US$30 billion of market capitalisation from the US-listed company and threatened to take billions off its brand value.
The claims might also make the firm vulnerable to US shareholder lawsuits and punitive action by American regulators if Alibaba was found to have known of the SAIC's investigation of Taobao before its IPO in September.
But the confrontation eased slightly last week with SAIC saying the paper had no legal force and was only intended for "internal reference" - a statement that could head off possible shareholder lawsuits. In a meeting between Alibaba chairman Jack Ma and SAIC minister Zhang Mao last Friday, Ma vowed to "actively cooperate with the government and devote more capital" to weeding out fake goods.
Last month, Millward Brown and WPP, the world's largest communication services group, ranked Alibaba as the second most valuable Chinese brand in 2015 with a brand value of US$59.68 billion.
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
FT score
Espanyol 1 Valencia 2
FT score
Espanyol 1 Valencia 2
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Alibaba vows closer cooperation with Chinese government in battle against fake goods
PUBLISHED : Tuesday, 10 February, 2015, 8:18pm
UPDATED : Wednesday, 11 February, 2015, 8:02am
[email protected]
Alibaba is facing lawsuits from a number of brands over the sale of counterfeit goods on its platforms. Photo: Xinhua
Alibaba has vowed to work more closely with the Chinese government as part of stepped-up efforts to tackle the sale of counterfeit products on the company’s e-commerce platforms. But the pledge is seen as unlikely to head off the prospect of more lawsuits from brands that are claiming infringed copyright.
Chairman Jack Ma Yun admitted inadequacies in his company’s management of fake goods sold on its platforms in a statement carried on the website of a government regulator that also stressed the increased co-operation with officials.
“As a well known e-commerce company, Alibaba has made great effort to tackle fake goods, but gaps and inadequacies remained,” said Ma during a meeting on Monday with Zhi Shuping, head of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), which posted the statement.
Alibaba would share sales transaction data with the government as part of the heightened push against fakes making their way on to the firm’s online platforms, Ma said in the statement, citing the use of so-called big data.
Zhi said mainland regulators would implement 10 measures to combat the problem, without listing them. They were aimed at strengthening the regulators’ ability to inspect the quality of goods sold online, increase their s support for e-commerce companies’ efforts to ensure product quality and step up punishment of offenders, Zhi said.
A row over counterfeit goods flared up last month when another regulator, the State Administration for Industry and Commerce (SAIC), released a white paper that accused Taobao, an Alibaba retail platform of allowing a high number of fake and substandard goods to be sold.
The heat was taken out of war of words between Alibaba and SAIC after both sides issued conciliatory statements and Ma said that the company would do more to take action against offending merchants.
Mao Tong, a partner at US law firm Squire Patton Boggs, said it was “very likely” that Alibaba will receive lawsuits relating to the claims of counterfeit goods on its sites. A number of high-end brands filed lawsuits in the US in July last year, alleging that Alibaba had made billions of US dollars through the sale of such goods, Mao said.
“Now that Alibaba is listed in the US and expanding its international sales, counterfeits will be unavoidable on its global platform.”
The AQSIQ statement released yesterday said: “Zhi praised Alibaba for taking the initiative to seek the support and cooperation of various government departments in fighting fakes, and hopes Alibaba will respect itself, respect quality and uphold its social responsibility.”
Mao said that in order for e-commerce operators to protect themselves against lawsuits in the US, they must show they did, not nor had reason, to know the goods were fake and had actively implemented all reasonable measures to weed out counterfeit sellers.
At least six US law firms have filed class-action shareholder lawsuits in the US against Alibaba. “The complaint alleges the company failed to disclose to investors that it was meeting with [SAIC] in July 2014, just two months before Alibaba’s US$25 billion IPO,” one of the firms, Hagens Berman, said in a statement.
Alibaba vows closer cooperation with Chinese government in battle against fake goods
PUBLISHED : Tuesday, 10 February, 2015, 8:18pm
UPDATED : Wednesday, 11 February, 2015, 8:02am
[email protected]
Alibaba is facing lawsuits from a number of brands over the sale of counterfeit goods on its platforms. Photo: Xinhua
Alibaba has vowed to work more closely with the Chinese government as part of stepped-up efforts to tackle the sale of counterfeit products on the company’s e-commerce platforms. But the pledge is seen as unlikely to head off the prospect of more lawsuits from brands that are claiming infringed copyright.
Chairman Jack Ma Yun admitted inadequacies in his company’s management of fake goods sold on its platforms in a statement carried on the website of a government regulator that also stressed the increased co-operation with officials.
“As a well known e-commerce company, Alibaba has made great effort to tackle fake goods, but gaps and inadequacies remained,” said Ma during a meeting on Monday with Zhi Shuping, head of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), which posted the statement.
Alibaba would share sales transaction data with the government as part of the heightened push against fakes making their way on to the firm’s online platforms, Ma said in the statement, citing the use of so-called big data.
Zhi said mainland regulators would implement 10 measures to combat the problem, without listing them. They were aimed at strengthening the regulators’ ability to inspect the quality of goods sold online, increase their s support for e-commerce companies’ efforts to ensure product quality and step up punishment of offenders, Zhi said.
A row over counterfeit goods flared up last month when another regulator, the State Administration for Industry and Commerce (SAIC), released a white paper that accused Taobao, an Alibaba retail platform of allowing a high number of fake and substandard goods to be sold.
The heat was taken out of war of words between Alibaba and SAIC after both sides issued conciliatory statements and Ma said that the company would do more to take action against offending merchants.
Mao Tong, a partner at US law firm Squire Patton Boggs, said it was “very likely” that Alibaba will receive lawsuits relating to the claims of counterfeit goods on its sites. A number of high-end brands filed lawsuits in the US in July last year, alleging that Alibaba had made billions of US dollars through the sale of such goods, Mao said.
“Now that Alibaba is listed in the US and expanding its international sales, counterfeits will be unavoidable on its global platform.”
The AQSIQ statement released yesterday said: “Zhi praised Alibaba for taking the initiative to seek the support and cooperation of various government departments in fighting fakes, and hopes Alibaba will respect itself, respect quality and uphold its social responsibility.”
Mao said that in order for e-commerce operators to protect themselves against lawsuits in the US, they must show they did, not nor had reason, to know the goods were fake and had actively implemented all reasonable measures to weed out counterfeit sellers.
At least six US law firms have filed class-action shareholder lawsuits in the US against Alibaba. “The complaint alleges the company failed to disclose to investors that it was meeting with [SAIC] in July 2014, just two months before Alibaba’s US$25 billion IPO,” one of the firms, Hagens Berman, said in a statement.
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
My PRC colleagues used to buy from Taobao.........I avoided it because its a PRC brand name............and true enough these PRC colleagues kenna fake goods afew times:(, now they don't dare to buy eventhough Taobao issued an assurance to exercise more stringent controls..................I was right not to even visit the website.
PRC quality assurance is CMI, bunch of BS, it's an innate attitudinal behavior molded by the years being commies, and it's getting worse. It's not chinese culture, but a commie culture who attempted to destroy 5000 years of Chinese culture through the cultural revolution. And how dare these bunch keep referring to the 5000 years of cultural development which they seek to destroy, and now backtrack....
Most PRC colleagues even agreed that what yang ying did was justified
They believe that in order to get rich, one has to be daring, even to the extend of forfeiting one's integrity and humility...........:(
Good luck to sg for they are more prevalent in our mist and growing in numbers, sg brand name of old is getting destroyed.............sad:o
My PRC colleagues used to buy from Taobao.........I avoided it because its a PRC brand name............and true enough these PRC colleagues kenna fake goods afew times:(, now they don't dare to buy eventhough Taobao issued an assurance to exercise more stringent controls..................I was right not to even visit the website.
PRC quality assurance is CMI, bunch of BS, it's an innate attitudinal behavior molded by the years being commies, and it's getting worse. It's not chinese culture, but a commie culture who attempted to destroy 5000 years of Chinese culture through the cultural revolution. And how dare these bunch keep referring to the 5000 years of cultural development which they seek to destroy, and now backtrack....
Most PRC colleagues even agreed that what yang ying did was justified
They believe that in order to get rich, one has to be daring, even to the extend of forfeiting one's integrity and humility...........:(
Good luck to sg for they are more prevalent in our mist and growing in numbers, sg brand name of old is getting destroyed.............sad:o
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Well it's not the end of the world
My PRC colleagues used to buy from Taobao.........I avoided it because its a PRC brand name............and true enough these PRC colleagues kenna fake goods afew times:(, now they don't dare to buy eventhough Taobao issued an assurance to exercise more stringent controls..................I was right not to even visit the website.
PRC quality assurance is CMI, bunch of BS, it's an innate attitudinal behavior molded by the years being commies, and it's getting worse. It's not chinese culture, but a commie culture who attempted to destroy 5000 years of Chinese culture through the cultural revolution. And how dare these bunch keep referring to the 5000 years of cultural development which they seek to destroy, and now backtrack....
Most PRC colleagues even agreed that what yang ying did was justified
They believe that in order to get rich, one has to be daring, even to the extend of forfeiting one's integrity and humility...........:(
Good luck to sg for they are more prevalent in our mist and growing in numbers, sg brand name of old is getting destroyed.............sad:o
Well it's not the end of the world
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
dun u just love alibaba and his forty thieves?
dun u just love alibaba and his forty thieves?
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Alibaba's Jack Ma urges employees to 'be relaxed' about recent lawsuits
PUBLISHED : Saturday, 14 February, 2015, 12:08am
UPDATED : Saturday, 14 February, 2015, 10:23am
Sophie Yu [email protected]
Jack Ma says Alibaba's staff will be paid double salary this month but no lai see will be given. Photo: Bloomberg
Alibaba's billionaire chairman Jack Ma Yun has told his 20,000 employees that this is the "most critical moment" in the 15-year history of the mainland e-commerce giant.
In his annual letter to staff before the Lunar New Year, posted on Alibaba's official microblog yesterday, Ma urged employees to be relaxed about class-action lawsuits against the firm following a "recent series of matters".
A dispute erupted last month after the State Administration for Industry and Commerce said in a report that a big proportion of products sold on Alibaba's customer-to-customer platform Taobao were fakes.
The regulator also said it had held back the release of a report about Alibaba's role in the sale of counterfeit products last year to "avoid hindering" its initial public offering in New York.
A number of lawsuits have been filed in the United States in the wake of that revelation, accusing Alibaba of failing to disclose information to investors.
"I ask Alibaba employees to be at ease as to the lawsuits," Ma said in his letter. "The company gives great importance to it and we will deal with it in an objective, transparent and honest way.
"In fact, this is an opportunity for the world to know us better. If we are a listed company, this kind of problem becomes inevitable."
Ma said all staff would be paid double salary this month, in accordance with the company's "13-month salary" principle.
But no lai see would be given because "Alibaba did not make extraordinary achievements this year", he said, adding "no special surprise".
"The
[listing] is not a surprise," Ma said. "It is the result of efforts of all the staff over 15 years."
A company spokeswoman said lai see was not the same as a bonus and that Alibaba did not give staff lai see in 2012. "As our fiscal year begins in April, bonus and pay rise will be reviewed then," she said.
The company listed on the New York Stock Exchange in September, raising a record US$25 billion at a selling price of US$68 per share. The float briefly pushed 50-year-old Ma to the top of China's rich list, overtaking Hong Kong tycoon Li Ka-shing.
Shares of Alibaba fell sharply after its row with the mainland regulator and results for the fourth quarter of last year that failed to meet market expectations.
The stock is now trading at about US$87, compared with a high of US$119.15 in November.
Meanwhile, the National Development and Reform Commission said yesterday that it was launching a probe of pricing tactics in the mainland's e-commerce sector to ensure a fair market, potentially putting new scrutiny on businesses such as Alibaba and smaller rival JD.com
Alibaba's Jack Ma urges employees to 'be relaxed' about recent lawsuits
PUBLISHED : Saturday, 14 February, 2015, 12:08am
UPDATED : Saturday, 14 February, 2015, 10:23am
Sophie Yu [email protected]
Jack Ma says Alibaba's staff will be paid double salary this month but no lai see will be given. Photo: Bloomberg
Alibaba's billionaire chairman Jack Ma Yun has told his 20,000 employees that this is the "most critical moment" in the 15-year history of the mainland e-commerce giant.
In his annual letter to staff before the Lunar New Year, posted on Alibaba's official microblog yesterday, Ma urged employees to be relaxed about class-action lawsuits against the firm following a "recent series of matters".
A dispute erupted last month after the State Administration for Industry and Commerce said in a report that a big proportion of products sold on Alibaba's customer-to-customer platform Taobao were fakes.
The regulator also said it had held back the release of a report about Alibaba's role in the sale of counterfeit products last year to "avoid hindering" its initial public offering in New York.
A number of lawsuits have been filed in the United States in the wake of that revelation, accusing Alibaba of failing to disclose information to investors.
"I ask Alibaba employees to be at ease as to the lawsuits," Ma said in his letter. "The company gives great importance to it and we will deal with it in an objective, transparent and honest way.
"In fact, this is an opportunity for the world to know us better. If we are a listed company, this kind of problem becomes inevitable."
Ma said all staff would be paid double salary this month, in accordance with the company's "13-month salary" principle.
But no lai see would be given because "Alibaba did not make extraordinary achievements this year", he said, adding "no special surprise".
"The
[listing] is not a surprise," Ma said. "It is the result of efforts of all the staff over 15 years."
A company spokeswoman said lai see was not the same as a bonus and that Alibaba did not give staff lai see in 2012. "As our fiscal year begins in April, bonus and pay rise will be reviewed then," she said.
The company listed on the New York Stock Exchange in September, raising a record US$25 billion at a selling price of US$68 per share. The float briefly pushed 50-year-old Ma to the top of China's rich list, overtaking Hong Kong tycoon Li Ka-shing.
Shares of Alibaba fell sharply after its row with the mainland regulator and results for the fourth quarter of last year that failed to meet market expectations.
The stock is now trading at about US$87, compared with a high of US$119.15 in November.
Meanwhile, the National Development and Reform Commission said yesterday that it was launching a probe of pricing tactics in the mainland's e-commerce sector to ensure a fair market, potentially putting new scrutiny on businesses such as Alibaba and smaller rival JD.com
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
I've never bought anything from Taobao, but isn't it obvious that a chinese site would carry knock offs
My PRC colleagues used to buy from Taobao.........I avoided it because its a PRC brand name............and true enough these PRC colleagues kenna fake goods afew times:(, now they don't dare to buy eventhough Taobao issued an assurance to exercise more stringent controls..................I was right not to even visit the website.
PRC quality assurance is CMI, bunch of BS, it's an innate attitudinal behavior molded by the years being commies, and it's getting worse. It's not chinese culture, but a commie culture who attempted to destroy 5000 years of Chinese culture through the cultural revolution. And how dare these bunch keep referring to the 5000 years of cultural development which they seek to destroy, and now backtrack....
Most PRC colleagues even agreed that what yang ying did was justified
They believe that in order to get rich, one has to be daring, even to the extend of forfeiting one's integrity and humility...........:(
Good luck to sg for they are more prevalent in our mist and growing in numbers, sg brand name of old is getting destroyed.............sad:o
I've never bought anything from Taobao, but isn't it obvious that a chinese site would carry knock offs
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
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
PUBLISHED : Saturday, 14 February, 2015, 7:08pm
UPDATED : Sunday, 15 February, 2015, 3:09am
Sijia Jiang [email protected] Follow the author on Twitter @SijiaJ
Alibaba now in the sights of US regulators. Photo: Reuters
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.
The possibility of an SEC investigation adds further uncertainty to the outlook for Alibaba's share price on the New York Stock Exchange. The shares have already fallen 13.5 per cent since January 27, the day before the SAIC released a white paper over the large number of counterfeit and substandard goods on its Taobao retail platform.
At least six US law firms have since filed class-action shareholder lawsuits against Alibaba.
"The complaint alleges the company failed to disclose to investors that it was meeting with [SAIC] in July 2014, just two months before Alibaba's US$25 billion IPO," one of the firms, Hagens Berman, said in a statement.
Alibaba had said the talks with SAIC officials came in the normal course of business in China and did not require disclosure in its IPO prospectus. It also said it did not learn of the allegations of counterfeiting until the white paper was published online.
A partner with a mainland law firm said that if the SEC investigated Alibaba, the US lawsuits would become a more serious matter.
Jack Ma Yun, Alibaba's billionaire chairman, said in his annual letter to his 20,000 employees, posted on the company's official microblog on Friday, that now was the "most critical moment" in the company's 15-year history. However, he urged employees to be relaxed about the lawsuits.
Additional reporting by Toh Han Shih
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
PUBLISHED : Saturday, 14 February, 2015, 7:08pm
UPDATED : Sunday, 15 February, 2015, 3:09am
Sijia Jiang [email protected] Follow the author on Twitter @SijiaJ
Alibaba now in the sights of US regulators. Photo: Reuters
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.
The possibility of an SEC investigation adds further uncertainty to the outlook for Alibaba's share price on the New York Stock Exchange. The shares have already fallen 13.5 per cent since January 27, the day before the SAIC released a white paper over the large number of counterfeit and substandard goods on its Taobao retail platform.
At least six US law firms have since filed class-action shareholder lawsuits against Alibaba.
"The complaint alleges the company failed to disclose to investors that it was meeting with [SAIC] in July 2014, just two months before Alibaba's US$25 billion IPO," one of the firms, Hagens Berman, said in a statement.
Alibaba had said the talks with SAIC officials came in the normal course of business in China and did not require disclosure in its IPO prospectus. It also said it did not learn of the allegations of counterfeiting until the white paper was published online.
A partner with a mainland law firm said that if the SEC investigated Alibaba, the US lawsuits would become a more serious matter.
Jack Ma Yun, Alibaba's billionaire chairman, said in his annual letter to his 20,000 employees, posted on the company's official microblog on Friday, that now was the "most critical moment" in the company's 15-year history. However, he urged employees to be relaxed about the lawsuits.
Additional reporting by Toh Han Shih
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Chinese tech giants Lenovo, Alibaba become hot targets of US class-action lawsuits
PUBLISHED : Thursday, 26 February, 2015, 1:25pm
UPDATED : Thursday, 26 February, 2015, 4:02pm
George Chen and Bien Perez
Lenovo and Alibaba are two of China’s largest and most globally influential technology companies. Photos: Agencies
Capital-rich Chinese technology firms such as top PC maker Lenovo and e-commerce giant Alibaba have apparently become hot targets for class-action lawsuits in the United States as their investors and customers pay more attention to possible business misconduct.
Beijing-headquartered Lenovo last week was sued by professional blogger Jessica Bennett, who claimed she received unwanted pop-up adverts on a Lenova Yoga 2 laptop she used for business – which she later learned had been preloaded with Superfish Visual Discovery adware.
The class-action suit was filed at the US District Court of the Southern District of California.
At least six US law firms have also launched separate investigations for a potential class-action lawsuit against Lenovo and its partner, software start-up Superfish.
Security experts have warned that the Superfish adware breaks secure connections on laptops in order to push advertising into online searches and websites without the computer user’s permission, leaving machines exposed to hackers and other malicious software.
The class-action lawsuit against Lenovo came just a few weeks after Hangzhou-based Alibaba’s trouble with some of its minority shareholders in the US, where Alibaba launched the world’s largest initial public offering (IPO) of stocks late last year.
Six US law firms filed class-action shareholder lawsuits against Alibaba earlier this month after the e-commerce giant’s dispute with Chinese regulators over the alleged sale of fake goods caught the attention of American regulators.
“Class-action lawsuits are very common in the United States. There were already some cases targeting Chinese companies a few years ago but these cases were relatively smaller cases compared with the current [lawsuits against Lenovo and Alibaba],” said Wang Chao, an internet industry analyst at Nomura Securities in Hong Kong.
Lenovo and Alibaba are two of China’s largest and most globally influential technology companies.
“After Alibaba’s high-profile IPO, the public and media in the US naturally pay more attention to Chinese companies, especially in the technology sector. So you may see more cases targeting major Chinese companies in the future,” said Wang.
Class-action lawsuits are often the stuff of Hollywood movies. Films like Erin Brockovich, which was inspired by actual events, tell the stories of ordinary folk banding together to fight the giants of industry and correct injustices. Class-action lawsuits can reap millions of US dollars for lawyers and clients when companies are ordered to pay compensation or if they settle out of court.
On the other hand, public relations experts noted that Chinese companies also needed to learn better crisis management strategies.
In the case of Alibaba’s tussle with Chinese regulators, which eventually resulted in class-action lawsuits, the company initially got mired in a series of online debates with the government over whether it sold fake products online.
Later, after the company's share price sank to a record low, senior executives were forced to sit down with the regulators in Beijing to fix the problem.
Customers’ concerns about their online security and privacy when using Lenovo computers equipped with the controversial adware first emerged late last year and caught worldwide attention earlier this month after warnings by cyber security experts on the potential security risk.
It was only until this week when Lenovo’s chief technology officer, Peter Hortensius, formally apologised for the security scare and decided to launch a sweeping security overhaul for millions of its laptops.
“Apparently there is still a lot for Chinese companies to learn about crisis management,” said a PR consultant who declined to be named as he was not authorised by his firm to comment on specific cases. “The more attention you get, the more trouble you will get.”
Chinese tech giants Lenovo, Alibaba become hot targets of US class-action lawsuits
PUBLISHED : Thursday, 26 February, 2015, 1:25pm
UPDATED : Thursday, 26 February, 2015, 4:02pm
George Chen and Bien Perez
Lenovo and Alibaba are two of China’s largest and most globally influential technology companies. Photos: Agencies
Capital-rich Chinese technology firms such as top PC maker Lenovo and e-commerce giant Alibaba have apparently become hot targets for class-action lawsuits in the United States as their investors and customers pay more attention to possible business misconduct.
Beijing-headquartered Lenovo last week was sued by professional blogger Jessica Bennett, who claimed she received unwanted pop-up adverts on a Lenova Yoga 2 laptop she used for business – which she later learned had been preloaded with Superfish Visual Discovery adware.
The class-action suit was filed at the US District Court of the Southern District of California.
At least six US law firms have also launched separate investigations for a potential class-action lawsuit against Lenovo and its partner, software start-up Superfish.
Security experts have warned that the Superfish adware breaks secure connections on laptops in order to push advertising into online searches and websites without the computer user’s permission, leaving machines exposed to hackers and other malicious software.
The class-action lawsuit against Lenovo came just a few weeks after Hangzhou-based Alibaba’s trouble with some of its minority shareholders in the US, where Alibaba launched the world’s largest initial public offering (IPO) of stocks late last year.
Six US law firms filed class-action shareholder lawsuits against Alibaba earlier this month after the e-commerce giant’s dispute with Chinese regulators over the alleged sale of fake goods caught the attention of American regulators.
“Class-action lawsuits are very common in the United States. There were already some cases targeting Chinese companies a few years ago but these cases were relatively smaller cases compared with the current [lawsuits against Lenovo and Alibaba],” said Wang Chao, an internet industry analyst at Nomura Securities in Hong Kong.
Lenovo and Alibaba are two of China’s largest and most globally influential technology companies.
“After Alibaba’s high-profile IPO, the public and media in the US naturally pay more attention to Chinese companies, especially in the technology sector. So you may see more cases targeting major Chinese companies in the future,” said Wang.
Class-action lawsuits are often the stuff of Hollywood movies. Films like Erin Brockovich, which was inspired by actual events, tell the stories of ordinary folk banding together to fight the giants of industry and correct injustices. Class-action lawsuits can reap millions of US dollars for lawyers and clients when companies are ordered to pay compensation or if they settle out of court.
On the other hand, public relations experts noted that Chinese companies also needed to learn better crisis management strategies.
In the case of Alibaba’s tussle with Chinese regulators, which eventually resulted in class-action lawsuits, the company initially got mired in a series of online debates with the government over whether it sold fake products online.
Later, after the company's share price sank to a record low, senior executives were forced to sit down with the regulators in Beijing to fix the problem.
Customers’ concerns about their online security and privacy when using Lenovo computers equipped with the controversial adware first emerged late last year and caught worldwide attention earlier this month after warnings by cyber security experts on the potential security risk.
It was only until this week when Lenovo’s chief technology officer, Peter Hortensius, formally apologised for the security scare and decided to launch a sweeping security overhaul for millions of its laptops.
“Apparently there is still a lot for Chinese companies to learn about crisis management,” said a PR consultant who declined to be named as he was not authorised by his firm to comment on specific cases. “The more attention you get, the more trouble you will get.”
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Taiwan sets compliance deadline for Alibaba's Singapore offshoot
PUBLISHED : Tuesday, 03 March, 2015, 1:20am
UPDATED : Tuesday, 03 March, 2015, 1:20am
Lawrence Chung in Taipei [email protected]
Alibaba's Jack Ma is due to address university students in Taipei on Tuesday. Photo: SCMP Pictures
Taiwan has ordered Alibaba.com Singapore E-commerce Private Limited to resubmit its application to operate on the island within six months or leave, economic officials said yesterday.
The company had been fined NT$120,000 (HK$30,000) for violating Taiwan's investment laws for mainland firms, a spokesman for the ministry said.
"Alibaba applied as a non-mainland, Singaporean company to operate in Taiwan in 2008, but since [the parent company's] listing in the United States in September, we have a different view about the company's status," a spokesman said.
He said although Alibaba defined itself as an international company, its major partners Yahoo and SoftBank had an agreement to support Alibaba's nominations to the board of directors.
Under these conditions, mainland-based Alibaba had control of the company, he said. As such, Alibaba was defined as a mainland firm instead of international one, according to Taiwan's investment laws. All mainland companies operating on the island had to comply with its regulations on such practices, the official said, and Alibaba could not continue to use its Singaporean status to operate in Taiwan.
The company would have to withdraw from the island if it failed to comply.
Alibaba said it would continue to clarify the issues and, if necessary, take action to protect the legitimate interests of Alibaba.com Reuters reported, citing an unnamed company official.
In 2009, Taiwan relaxed regulations to allow investment by mainland firms.
Alibaba chief executive Jack Ma is due to give a speech to university students in Taipei on Tuesday.
Taiwan sets compliance deadline for Alibaba's Singapore offshoot
PUBLISHED : Tuesday, 03 March, 2015, 1:20am
UPDATED : Tuesday, 03 March, 2015, 1:20am
Lawrence Chung in Taipei [email protected]
Alibaba's Jack Ma is due to address university students in Taipei on Tuesday. Photo: SCMP Pictures
Taiwan has ordered Alibaba.com Singapore E-commerce Private Limited to resubmit its application to operate on the island within six months or leave, economic officials said yesterday.
The company had been fined NT$120,000 (HK$30,000) for violating Taiwan's investment laws for mainland firms, a spokesman for the ministry said.
"Alibaba applied as a non-mainland, Singaporean company to operate in Taiwan in 2008, but since [the parent company's] listing in the United States in September, we have a different view about the company's status," a spokesman said.
He said although Alibaba defined itself as an international company, its major partners Yahoo and SoftBank had an agreement to support Alibaba's nominations to the board of directors.
Under these conditions, mainland-based Alibaba had control of the company, he said. As such, Alibaba was defined as a mainland firm instead of international one, according to Taiwan's investment laws. All mainland companies operating on the island had to comply with its regulations on such practices, the official said, and Alibaba could not continue to use its Singaporean status to operate in Taiwan.
The company would have to withdraw from the island if it failed to comply.
Alibaba said it would continue to clarify the issues and, if necessary, take action to protect the legitimate interests of Alibaba.com Reuters reported, citing an unnamed company official.
In 2009, Taiwan relaxed regulations to allow investment by mainland firms.
Alibaba chief executive Jack Ma is due to give a speech to university students in Taipei on Tuesday.
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
what is fake and real?
Cheebye Westerner products are unsustainable and unreliable. Look at Microsoft today, open source (open leg) today and call this innovation?
Look at angmoh products substandard build by drunk pub people. Their industrial revolution created toxic materials and cuase climate change and now want to take a swipe at Chinese.
Copy Chinese inventions firw work powder and turn into substandard gunpowders to go to wars with peaceful countries and colonized other nations.
Evil British. Time for their descendant to spit on their forefathers evil doing to the world.
what is fake and real?
Cheebye Westerner products are unsustainable and unreliable. Look at Microsoft today, open source (open leg) today and call this innovation?
Look at angmoh products substandard build by drunk pub people. Their industrial revolution created toxic materials and cuase climate change and now want to take a swipe at Chinese.
Copy Chinese inventions firw work powder and turn into substandard gunpowders to go to wars with peaceful countries and colonized other nations.
Evil British. Time for their descendant to spit on their forefathers evil doing to the world.
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
taking opportunity to ball lift your PAP master? Nice try loser!!!
PAP will lose this election... face it
Your sinkieland is of no interest to big cooperate ecommerce giant.. What impact does your puny island and puny population has on the profit of the company..grow up..sinkie loser.
taking opportunity to ball lift your PAP master? Nice try loser!!!
PAP will lose this election... face it
Your sinkieland is of no interest to big cooperate ecommerce giant.. What impact does your puny island and puny population has on the profit of the company..grow up..sinkie loser.
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Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
Taiwan forcing out Alibaba over investment violations
AFP
March 4, 2015, 12:01 am TWN
TAIPEI -- Taiwan has demanded Chinese e-commerce giant Alibaba withdraw from the island within six months for violating investment restrictions on mainland-controlled firms, officials said Tuesday.
The island's Investment Commission has ordered Alibaba to withdraw or transfer its holdings from its Taiwanese branch, saying that it registered as a foreign company when it was in fact a mainland company.
Alibaba can appeal the ruling, which also carries a T$120,000 (US$3,820) fine.
Although restrictions on Chinese investment have eased since Beijing-friendly President Ma Ying-jeou came to power in 2008, foreign companies are still subject to fewer limitations than mainland firms.
Alibaba is registered as a foreign company in Taiwan under the name Alibaba.com Singapore E-commerce Private Ltd.
“Alibaba violated Taiwan's investment regulations which stipulate that mainland Chinese investors cannot apply to set up companies as foreign investors,” said commission spokeswoman Chu Ping.
She said Alibaba should be registered as a Chinese firm as more than 30 percent of it was controlled by mainland investors, information which came to light after the company's IPO on the New York Stock Exchange last year.
Chu said it could re-register in the future as a mainland company.
Alibaba can appeal to Taiwan's cabinet and the commission would reconsider its decision should it make a successful appeal, Chu said.
The company said in a statement that it would seek to clarify the issue and “take proper actions” to protect its interests if necessary.
It said the Taiwan branch was set up as a foreign company in 2008 and had acted in accordance with the island's regulations.
“Since Alibaba Group, the parent company of Alibaba.com, went public in the US last September, the authority took a different view about the internal structure of Alibaba Group and deemed it as a mainland Chinese company,” the statement said.
“We will actively communicate with the authority and provide the required supporting materials to comply with the latest requirements,” it said.
In 2009 Taiwan partially lifted its decades-old ban on investment in the island by Chinese companies or individuals as ties improved under President Ma, who came to power on a platform of boosting trade with China and was reelected in 2012 for a final four-year term.
Alibaba founder Jack Ma spoke to around 2,000 students at National Taiwan University on Tuesday but did not broach the issue, instead encouraging young people to become entrepreneurs.
“I want to help Taiwan's small businesses to sell their products to the mainland and the world,” he said.
Taiwan forcing out Alibaba over investment violations
AFP
March 4, 2015, 12:01 am TWN
TAIPEI -- Taiwan has demanded Chinese e-commerce giant Alibaba withdraw from the island within six months for violating investment restrictions on mainland-controlled firms, officials said Tuesday.
The island's Investment Commission has ordered Alibaba to withdraw or transfer its holdings from its Taiwanese branch, saying that it registered as a foreign company when it was in fact a mainland company.
Alibaba can appeal the ruling, which also carries a T$120,000 (US$3,820) fine.
Although restrictions on Chinese investment have eased since Beijing-friendly President Ma Ying-jeou came to power in 2008, foreign companies are still subject to fewer limitations than mainland firms.
Alibaba is registered as a foreign company in Taiwan under the name Alibaba.com Singapore E-commerce Private Ltd.
“Alibaba violated Taiwan's investment regulations which stipulate that mainland Chinese investors cannot apply to set up companies as foreign investors,” said commission spokeswoman Chu Ping.
She said Alibaba should be registered as a Chinese firm as more than 30 percent of it was controlled by mainland investors, information which came to light after the company's IPO on the New York Stock Exchange last year.
Chu said it could re-register in the future as a mainland company.
Alibaba can appeal to Taiwan's cabinet and the commission would reconsider its decision should it make a successful appeal, Chu said.
The company said in a statement that it would seek to clarify the issue and “take proper actions” to protect its interests if necessary.
It said the Taiwan branch was set up as a foreign company in 2008 and had acted in accordance with the island's regulations.
“Since Alibaba Group, the parent company of Alibaba.com, went public in the US last September, the authority took a different view about the internal structure of Alibaba Group and deemed it as a mainland Chinese company,” the statement said.
“We will actively communicate with the authority and provide the required supporting materials to comply with the latest requirements,” it said.
In 2009 Taiwan partially lifted its decades-old ban on investment in the island by Chinese companies or individuals as ties improved under President Ma, who came to power on a platform of boosting trade with China and was reelected in 2012 for a final four-year term.
Alibaba founder Jack Ma spoke to around 2,000 students at National Taiwan University on Tuesday but did not broach the issue, instead encouraging young people to become entrepreneurs.
“I want to help Taiwan's small businesses to sell their products to the mainland and the world,” he said.
Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
To be fair, Taobao, like eBay, is only a e-commerce portal for all manner of third-party sellers plying their wares. They'll have their work cut out trying to get rid of counterfeit goods.
Even eBay has been struggling with fakes from its inception. Just google Rolex and you'll see fake Rolex watches, parts & accessories listed. A friend was conned into parting with US$2,500 for a Rolex Submariner from an Australian eBayer. (It seemed too good to be true, and it was.) He was stupid enough to wire the money directly into the vendor's account instead of insisting on PayPal, and he never got his money back.
It's not for nothing that all major watch collectors' forums warn against buying any watches or jewellery from 'Fleabay'.
To be fair, Taobao, like eBay, is only a e-commerce portal for all manner of third-party sellers plying their wares. They'll have their work cut out trying to get rid of counterfeit goods.
Even eBay has been struggling with fakes from its inception. Just google Rolex and you'll see fake Rolex watches, parts & accessories listed. A friend was conned into parting with US$2,500 for a Rolex Submariner from an Australian eBayer. (It seemed too good to be true, and it was.) He was stupid enough to wire the money directly into the vendor's account instead of insisting on PayPal, and he never got his money back.
It's not for nothing that all major watch collectors' forums warn against buying any watches or jewellery from 'Fleabay'.
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Re: Regulator releases damning report on Alibaba over fake, substandard goods on Taob
I prefer to be tanned. IMO men can be stout and muscular but fair skin makes them sissies.
I prefer to be tanned. IMO men can be stout and muscular but fair skin makes them sissies.
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