South Korea’s sovereign-wealth fund sold Alibaba, Apple, and Intel stock in the third quarter. It also more than doubled a position in GM stock, a move that is paying off so far in the fourth quarter.
House members could vote as early as Wednesday to boot Chinese companies with shares on U.S. exchanges if they don't adhere to audit-oversight rules. Companies such as Alibaba Group Holding Ltd. would be faced with making the transition to undergoing an annual audit reviewed by American regulators within three years or be kicked off the New York Stock Exchange or Nasdaq Stock Market. The bipartisan legislation, which requires a two-thirds majority for passage, unanimously passed the Senate in May. Chinese officials have criticized the bill, which is much harsher than a Securities and Exchange Commission proposal under consideration that would require audit inspection as a condition of continued listing on a stock exchange, but would let noncompliant companies trade over the counter.
LOS ANGELES, CA / ACCESSWIRE / November 27, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Alibaba Group Holding Limited ("Alibaba" or "the Company") (NYSE:BABA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.