NEW YORK (MarketWatch) -- Alibaba Group Holding Ltd. BABA, -0.63% 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.
Sentiment: Strong Sell
Futures and Russell 2000 will be lobster red by the time you awake for sure !!!!
Sentiment: Strong Buy
BEIJING (Caixin Online) — A meeting between Alibaba Group Chairman Jack Ma and the head of China’s commerce regulator on Friday may have helped calm a rare tussle between the leading e-commerce company and a powerful government agency.