Market Chatter: Shein Agrees to $100 Million Settlement Probe with US FTC

MT Newswires Live10-26

Shein (HKG:0625) has agreed to pay $100 million to resolve a U.S. Federal Trade Commission investigation into delivery delays and other customer complaints, Reuters reported Monday, citing a source with knowledge of the matter.

The settlement amounts to 44% of the online retailer's second-quarter profit, adding to regulatory pressure on the company in the U.S. and Europe, according to the report.

Shein did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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

We need your insight to fill this gap
Leave a comment