Yahoo individual Alipay hit with shareholder class action.
According to reports, the U. S. KendallLawGroup Securities (referred to as Kendal) local time on June 7 announced, Kendall was the sixth for the shareholders, the court launched in the Southern District of California class action on Yahoo. The class action alleges that Yahoo was expressed as early as 2009, foreign ownership might of Chinese regulatory requirements change, the change will result in Yahoo or stripped Alipay Alibaba Group, it was not until May 13 at Yahoo expressed demand for the company on March 31 transfer of ownership of Alipay.
However, the class action but also pay more for a single incident Treasure expected to clarify the facts. Insiders suggest that the litigation must answer Alipay Yahoo in accordance with Chinese law on the basis of safe and legal agreement to obtain a license, or in the form of the control system to bypass the Chinese control the problem.
A Softbank president Masayoshi made the third party Mac applications to pay license Alipay, the "control protocol" approach to ensure access Alipay license issued by the central bank, but this proposal was the Chairman of Alibaba's Jack Ma denied.
Internet well-known critic, former president of Yahoo China, said Xie, things develop in the present, the key question is whether third parties Alibaba for a license issued in the "pay agreement that has allowed companies to take control "argument.
The challenge for Xie, insiders Alipay the "Daily News" reporter, said, Alipay had contact with the central bank, the bank learned of the information policy is strictly must apply for business license within the information one hundred percent true, the agreement allowed a controlled manner to the so-called "technical operations."
Yahoo shareholder class action against
Kendall said in a statement, April 2011 19-13 May each buy Yahoo stock between shareholders, can get more information contact Kendall, and served in the class action plaintiffs. If shareholders want lead plaintiff is required to August 5, 2011 before the court. According to financial news report, a company founded by former judge federal Kendall.
Kendall said the indictment, Yahoo said earlier that Yahoo no later than March 31 of this year, indicating that the ownership of the deposit paid to the transfer, and the transfer of the Alibaba Group to Yahoo decline in value billions of dollars investment.
Common complainants were notified as early as Yahoo 2009, Chinese regulators for overseas ownership rules change, the change will result in Yahoo or stripped Alipay Alibaba Group. Referred to as the alleged false information and missing information results, Yahoo stock price this year is 19 April-13 May was artificially inflated between.
However, this class action but also pay more treasure the fact that recombination events are expected to clarify. Analysts believe that Alipay is in accordance with Chinese law on the basis of safe and legal agreement to obtain a license or a form control to bypass the Chinese regulatory system, Yahoo will be, the proceedings must be involved to answer.
The source believes that the United States for the Yahoo shareholders confirm the fact, get a license if there are flaws in the legal basis, it will interest a large uncertainty, and this will make Yahoo the United States has a huge interest risk shareholders.
Xie suggests that the transition Alipay, Yahoo and Softbank knowledge or consent, to determine the validity of the transfer to determine the basis for the parties "whether the Board has approved the transfer," the key issues, was clearly reluctant.
"Yahoo must be explained to the shareholders which events the loss of Yahoo assets, the interests of shareholders, whether by investment losses, once explained the problem to bad Yahoo does not rule out Yahoo, Alibaba's management or be sued to do. " Wen Xie said.
Domestic enterprises must be true?
Xie believes the issue is individual Alipay, Alibaba key question of whether third party licenses are issued in "agreement to pay companies are not allowed to control" argument. "Total of 27 companies licensed third party payment, more than half of private enterprises, need to attract foreign investment. Prevention 'control agreements' to say, industry or related sectors of the community is not standing." A Xie said.
The challenge for Xie, insiders Alipay the "Daily News" reporter, said, Alipay had contact with the central bank, the bank learned of the information policy is strictly must apply for business license within the information one hundred percent true, the agreement allowed a controlled manner to the so-called "technical operations."
"Now the public is that the differences between the two sides negotiate the price, this is misleading." A Alipay said, whether or Yahoo Softbank well aware, must obtain a license PayPal, and the company will not pay a license on can "control agreement."
According to sources, Yahoo and Softbank Alibaba Alipay how to obtain a license and is a huge difference. In accordance with the requirements of the central bank, to be one hundred percent of non-owned financial institutions. Yahoo and Softbank wants to set up a shell company owned domestic PayPal, then, the domestic company and Yahoo, which signed the relevant agreement between the control Softbank major Alipay shareholder agreement.
"This proposal was rejected in Alibaba Group. Aspects of Alibaba, the approach is no doubt challenging regulatory authorities on the bottom line and ultimately affect the sustainability of business problems Alipay country." The news said.
The meeting Alipay analyst said May 25 is Jerry Yang, Yahoo acknowledged that in recent years, Alibaba's management, including Yahoo and Softbank are concerned about developing a license, but because the central bank a clear policy, with for problem has been Alipay of internal consultation stage.
Can also be evidence that in early 2009, Alipay has completed 70% of shares of domestic changes, but no one was Yahoo and Softbank opposition. Bo is well-known IT commentator said the "Daily News", for Yahoo, explain the problem of domestic shares in 2009 to change, Yahoo has the information? Why did not disclose if indicated? If, as argued by Yahoo to March 31, 2011 Alipay know of the change in the balance, then Yahoo's why more than 40 days after the disclosure of the relevant notice?
According to reports, the U. S. KendallLawGroup Securities (referred to as Kendal) local time on June 7 announced, Kendall was the sixth for the shareholders, the court launched in the Southern District of California class action on Yahoo. The class action alleges that Yahoo was expressed as early as 2009, foreign ownership might of Chinese regulatory requirements change, the change will result in Yahoo or stripped Alipay Alibaba Group, it was not until May 13 at Yahoo expressed demand for the company on March 31 transfer of ownership of Alipay.
However, the class action but also pay more for a single incident Treasure expected to clarify the facts. Insiders suggest that the litigation must answer Alipay Yahoo in accordance with Chinese law on the basis of safe and legal agreement to obtain a license, or in the form of the control system to bypass the Chinese control the problem.
A Softbank president Masayoshi made the third party Mac applications to pay license Alipay, the "control protocol" approach to ensure access Alipay license issued by the central bank, but this proposal was the Chairman of Alibaba's Jack Ma denied.
Internet well-known critic, former president of Yahoo China, said Xie, things develop in the present, the key question is whether third parties Alibaba for a license issued in the "pay agreement that has allowed companies to take control "argument.
The challenge for Xie, insiders Alipay the "Daily News" reporter, said, Alipay had contact with the central bank, the bank learned of the information policy is strictly must apply for business license within the information one hundred percent true, the agreement allowed a controlled manner to the so-called "technical operations."
Yahoo shareholder class action against
Kendall said in a statement, April 2011 19-13 May each buy Yahoo stock between shareholders, can get more information contact Kendall, and served in the class action plaintiffs. If shareholders want lead plaintiff is required to August 5, 2011 before the court. According to financial news report, a company founded by former judge federal Kendall.
Kendall said the indictment, Yahoo said earlier that Yahoo no later than March 31 of this year, indicating that the ownership of the deposit paid to the transfer, and the transfer of the Alibaba Group to Yahoo decline in value billions of dollars investment.
Common complainants were notified as early as Yahoo 2009, Chinese regulators for overseas ownership rules change, the change will result in Yahoo or stripped Alipay Alibaba Group. Referred to as the alleged false information and missing information results, Yahoo stock price this year is 19 April-13 May was artificially inflated between.
However, this class action but also pay more treasure the fact that recombination events are expected to clarify. Analysts believe that Alipay is in accordance with Chinese law on the basis of safe and legal agreement to obtain a license or a form control to bypass the Chinese regulatory system, Yahoo will be, the proceedings must be involved to answer.
The source believes that the United States for the Yahoo shareholders confirm the fact, get a license if there are flaws in the legal basis, it will interest a large uncertainty, and this will make Yahoo the United States has a huge interest risk shareholders.
Xie suggests that the transition Alipay, Yahoo and Softbank knowledge or consent, to determine the validity of the transfer to determine the basis for the parties "whether the Board has approved the transfer," the key issues, was clearly reluctant.
"Yahoo must be explained to the shareholders which events the loss of Yahoo assets, the interests of shareholders, whether by investment losses, once explained the problem to bad Yahoo does not rule out Yahoo, Alibaba's management or be sued to do. " Wen Xie said.
Domestic enterprises must be true?
Xie believes the issue is individual Alipay, Alibaba key question of whether third party licenses are issued in "agreement to pay companies are not allowed to control" argument. "Total of 27 companies licensed third party payment, more than half of private enterprises, need to attract foreign investment. Prevention 'control agreements' to say, industry or related sectors of the community is not standing." A Xie said.
The challenge for Xie, insiders Alipay the "Daily News" reporter, said, Alipay had contact with the central bank, the bank learned of the information policy is strictly must apply for business license within the information one hundred percent true, the agreement allowed a controlled manner to the so-called "technical operations."
"Now the public is that the differences between the two sides negotiate the price, this is misleading." A Alipay said, whether or Yahoo Softbank well aware, must obtain a license PayPal, and the company will not pay a license on can "control agreement."
According to sources, Yahoo and Softbank Alibaba Alipay how to obtain a license and is a huge difference. In accordance with the requirements of the central bank, to be one hundred percent of non-owned financial institutions. Yahoo and Softbank wants to set up a shell company owned domestic PayPal, then, the domestic company and Yahoo, which signed the relevant agreement between the control Softbank major Alipay shareholder agreement.
"This proposal was rejected in Alibaba Group. Aspects of Alibaba, the approach is no doubt challenging regulatory authorities on the bottom line and ultimately affect the sustainability of business problems Alipay country." The news said.
The meeting Alipay analyst said May 25 is Jerry Yang, Yahoo acknowledged that in recent years, Alibaba's management, including Yahoo and Softbank are concerned about developing a license, but because the central bank a clear policy, with for problem has been Alipay of internal consultation stage.
Can also be evidence that in early 2009, Alipay has completed 70% of shares of domestic changes, but no one was Yahoo and Softbank opposition. Bo is well-known IT commentator said the "Daily News", for Yahoo, explain the problem of domestic shares in 2009 to change, Yahoo has the information? Why did not disclose if indicated? If, as argued by Yahoo to March 31, 2011 Alipay know of the change in the balance, then Yahoo's why more than 40 days after the disclosure of the relevant notice?
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