JD.com Founder Reaches Out-of-Court Settlement Over Rape Allegations –
- JD.com, Inc JD Founder Richard Liu had settled with Liu Jingyao, the Minnesota student, over alleged rape in 2018, ending a civil lawsuit less than 48 hours before a trial was expected to begin.
- “The 2018 incident between Ms. Jingyao Liu and Mr. Richard Liu in Minnesota resulted in a misunderstanding that has drawn significant public attention and brought deep suffering to the parties and their families,” the parties said.
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- Jingyao is seeking a minimum of $50,000 in damages plus additional punitive damages in the lawsuit. Bloomberg reports.
- The terms of the settlement remained secret.
- News of the alleged attack wiped out the company’s value by $10 billion, but Liu remained among the world’s 150 richest people, according to the Bloomberg Billionaire Index.
- China’s domestic legal system made it difficult for women to appeal for male sexual misconduct.
- On September 16, Richard Liu sold 45% of his equity interests in two JD.com subsidiaries to Qin Miao, vice president of JD Group, to increase management efficiency.
- Liu resigned as CEO of JD.com in April. JD.com President Xu Lei succeeded Liu.
- Liu resigned from the Chinese People’s Political Consultative Conference for “personal reasons.”
- JD.com topped the list of China’s 500 private companies and beat Alibaba Group Holding Limited BABA with 951.59 billion yuan (136.46 billion US dollars). Revenue in 2021.
- Price promotion: JD shares traded 1.63% lower at $49.48 on the last check Monday premarket.
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