- Alibaba Group Holding Ltd (NYSE:BABA) suspended ten employees for publicizing sexual assault allegations against a former manager leading to his subsequent firing, Bloomberg reports.
- The group shared a disturbing account by the victim who accused a former manager of rape in an internal forum violating the company's policy. The report went viral this month, highlighting the notorious corporate culture and sexism.
- The group's offenses include sharing screenshots of the woman's post in the public domain after removing watermarks that bore their IDs.
- Alibaba reprimanded another three people for making inappropriate comments in public forums. It had just completed its internal investigation following the harassment accusations of its employee.
- CEO Daniel Zhang had acknowledged the company's poor handling of the sexual abuse complaint.
- China had waged a regulatory crackdown on issues ranging from exploitative behavior to the abuse of low-wage workers.
- Price Action: BABA shares traded higher by 0.91% at $160.92 in the premarket session on the last check Monday.
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