Richard Liu, the founding father of Chinese language e-commerce big JD.com, will step down from his function as CEO. His departure comes after a variety of high-profile expertise founders exited their management positions amid Beijing’s regulatory crackdown on its home tech sector.
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Billionaire Richard Liu, founding father of one among China’s largest e-commerce platforms JD.com, has settled a civil swimsuit introduced by former College of Michigan pupil Liu Jingyao, who had accused him of rape.
The swimsuit was a part of a long-running authorized battle between Richard Liu and Liu Jingyao, who was a 21-year-old pupil in 2018 when she stated Richard Liu raped her after a night of dinner and drinks.
A press release from the lawsuit’s events, and supplied to Reuters by JD.com, stated: “The incident between Ms. Jingyao Liu and Mr. Richard Liu in Minnesota in 2018 resulted in a misunderstanding that has consumed substantial public consideration and introduced profound struggling to the events and their households.”
It went on to verify that the case, which final week started jury choice proceedings in a Minnesota court docket, has been settled, however didn’t disclose the situations of the settlement.
JD.com declined to remark additional on the case, whereas legal professionals for Richard Liu and Liu Jingyao didn’t instantly reply to a request for remark.
Richard Liu is a high-profile billionaire in China who based and till earlier this 12 months was chief government of JD.com. He handed the CEO reins to Xu Lei in April.
Liu Jingyao filed the civil swimsuit in April 2019, 4 months after prosecutors declined to press prison expenses towards Richard Liu.
The case closely dented Liu’s repute in China and put scrutiny on his management of the e-commerce big. In 2019, he resigned from the advisory physique to China’s parliament, citing “private causes”.
The case had additionally galvanised many ladies in China, the place points akin to sexual harassment and assault had for years been not often broached in public till the #MeToo motion took root in 2018, although it has confronted on-line censorship and official pushback since.
Supporters of Liu Jingyao on Chinese language social media referred to as the settlement a win for China’s #MeToo motion.
Information of the settlement rapidly started trending on Chinese language social media on Sunday, with greater than 110 million individuals studying information on the subject.