ALi (TPE:3041) unit ALi (Chengdu) has received a court complaint seeking 22.3 million yuan over the repurchase of equity in AIXlink, according to a Tuesday filing.
The plaintiff is seeking the purchase price of 22.3 million yuan plus a contractual penalty equivalent to 10% of the amount.
ALi said neither it nor ALi Chengdu was party to the agreements containing the repurchase mechanism.
The company has appointed legal counsel and said the litigation is not expected to materially affect its overall operations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments