The SEC is investigating Alibaba
disclose /dɪs'kloz/vt. 公开;揭露 CET
investigate /ɪn'vɛstɪɡet / v. 调查;研究 CET4
blockbuster / 'blɑkbʌstɚ / n. 轰动;巨型炸弹;一鸣惊人者
proceeding / prə'sidɪŋ / n. 进行;程序;诉讼;事项 CET6
premarket adj. 上市前的
Alibaba has disclosed that it is being investigated by the U.S. Securities and Exchange Commission over its accounting practices and how it reports data from its blockbuster Singles' Day sale.
The Chinese e-commerce firm said it has been told that regulators are looking for potential violations of federal securities laws. The SEC has requested documents and information on a logistics firm with close ties to Alibaba and data reporting from the company's sale on Singles' Day, which is China's version of Black Friday or Cyber Monday.
"This matter is ongoing, and, as with any regulatory proceeding, we cannot predict when it will be concluded," Alibaba said in a regulatory filing. Alibaba shares dropped nearly 3% in premarket trading.