Liu retains leadership, company operations normal

Source:Global Times Published: 2018/9/7 23:13:42

Chinese e-commerce giant (JD) said on its corporate blog Thursday that its CEO Richard Liu Qiangdong continues to lead the company and that there has been no interruption to JD's day-to-day business operations after Liu's Minnesota scandal.

"We cannot speak for law enforcement authorities in Minneapolis with regard to any investigation, but Liu has cooperated," the company said in a Q&A format statement on its website, adding the CEO is willing to cooperate further if requested.

"We are not aware of any lawsuits against the company and, if filed, we will vigorously contest the allegations," JD said in response to law firms expressing their willingness to represent shareholders.

Three US investor rights law firms announced on Wednesday that they are investigating potential securities claims on behalf of JD shareholders.

"The situation in Minnesota did not have and is not expected to have any impact on JD's day-to-day operations. In the meantime, JD is committed to running its daily business with undivided focus, and serving our customers and partners around the world," read the statement.

Liu was arrested in Minnesota for alleged sexual misconduct on Friday (US time), but he was released without charges or bail the following day before returning to China, media reports said.

JD's shares slid by 0.59 percent on the NASDAQ at Friday's opening as of press time.


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