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Market Chatter: Alibaba Group Sues US Department of Defense to Seek Removal From Blacklist

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Alibaba Group (BABA) has filed a lawsuit against the US Department of Defense seeking to be removed from a blacklist that labels it as a supporter of the Chinese military, Bloomberg News reported, citing the suit.

The company reportedly claims that the designation as "arbitrary and unjustified." In its filing in federal court in San Jose, California, Alibaba says the decision violates due process rights and its freedom of speech protections, according to the report.

Alibaba and the Department of Defense didn't immediately respond to' 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.)

Price: $102.62, Change: $-2.35, Percent Change: -2.24%

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