JD.com shares dip after CEO's arrest and release

Send a link to a friend  Share

[September 04, 2018]  SHANGHAI (Reuters) - Chinese retailer JD.com Inc's <JD.O> stock fell nearly 3 percent in premarket trading on Tuesday after the firm's CEO was arrested in the United States on suspicion of criminal sexual conduct and later released.

 Richard Liu, CEO and founder of China's e-commerce company JD.com, attends a France-Chinese forum on the applications of artificial intelligence at SOHO 3Q in Beijing, China January 9, 2018. REUTERS/Jason Lee/File Photo

Richard Liu, who founded the firm in 1998, was arrested by police in the U.S. city of Minneapolis on Friday and released the next day before returning to China. U.S. markets were closed on Monday.

Minneapolis police said on Sunday that "an active investigation" was under way. A Minnesota-based lawyer for Liu said on Monday that the Chinese magnate denied any wrongdoing and that he did not expect his client to be charged.

(Reporting by Adam Jourdan; editing by Patrick Graham)

[ 2018 Thomson Reuters. All rights reserved.]

Copyright 2018 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.


Back to top