Alibaba Group has agreed to pay $433.5 million to settle a US class-action lawsuit filed by investors on October 25. The lawsuit, initiated in 2020, accused the Chinese e-commerce giant of monopolistic practices that allegedly caused financial losses for shareholders. Despite agreeing to the settlement, Alibaba denies any wrongdoing. This legal resolution comes as Alibaba continues its stock buyback program, having repurchased 1,635,200 shares of common stock on the NYSE at a price of $12.36 per share, totaling nearly $20 million. Alibaba's stock [HKG: 9988] rose 2.1% following the announcement.