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ALi Unit Faces 22 Million Yuan Lawsuit Over AIXlink Equity Repurchase

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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.

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