Alibaba's AliExpress Fined €550 Million by EU for Illegal Product Sales
The European Commission fined Alibaba Group Holding (BABA)’s online marketplace, AliExpress, a record 550 million euros ($629 million) for failing to address unsafe and counterfeit goods on its platform. The fine is the largest of its kind.
Tickers: $BABA
Topics: counterfeit goods e-commerce European Union regulation