Economic Reporter On-line Reporter Qian Yujuan Intern Reporter Wang Yi Earlier in the morning of December 22, Beijing time, Jingdong Group (JD.US) CEO of Liu Qiangdong's trial of the US-related sexual assault case finally established itself.
The Freeman County Prosecutor, Hennepin County, Minnesota, announced December 21 that it was "a thorough investigation of the Minneapolis Police Department and a careful review of four prosecutors specializing in cases of sexual assault." There are serious problems of evidence (insufficiency) in the case of suspected sexual assault in the East. The Prosecutor's Office decided not to prosecute Liu Qiangdong for sexual assault. "
Gan Guolong, a senior partner at law firm Shanghai Zhonghua, told reporters that the conclusion is clear that the evidence does not support the prosecution because the general case involving celebrities will basically go to prosecution stage unless there is a private agreement .
Significant progress in this case meant that Liu Qiangdong was not to blame. Subsequently, Jingdong Weibo Group official also issued a statement: "We welcome this decision, Jingdong Group will continue to provide the best service to customers and partners around the world, to create long-term value for investors."
When news of Liu Qiangdong's acquittal was disclosed, the Jingdong Group's share price rose 10 percent to $ 21.90. Economic Observer Online reporter learned that as of the end of the day, Jingdong closed at $ 21.08, an increase of 5.88%. Stock prices also continued to grow after the session, an increase of almost 3%.
The case of Liu Qiangdong was revealed on August 31. Three US law firms announced they investigated Liu Dongdong's case on September 5. After much detail, the share price of Jingdong once again dropped to a new low, dropping more than 40%. Economic Observer Online reporter learned that on September 24, Jingdong US shares fell as much as 8.14% in the end once fell below $ 24.40.
In addition, Liu Qiangdong, involved in the case, lost important activities more than once. At the end of September, he did not participate in the 2018 World Artificial Intelligence Conference in Shanghai. At a summit of business leaders in October, he was not among the guests. In November, he also missed the World Internet Conference held in Wuzhen. On the 8th day of the opening day of the conference, Jingdong's share price fell nearly 7% to close at 22.40 US dollars.
Even on November 19, the Jingdong Group released its third-quarter earnings report, but on the first trading day the JD.com Nasdaq index began to fall and its stock price plummeted 8.42%, becoming the lowest since the JD 2014 IPO. Point eventually Jingdong closed at $ 19.49, a step away from the issue price of $ 19. On the second day of trading, Jingdong's share price fell again at 7.67%.
In fact, this continued decline is not caused by bad financial results, the most direct factor is that the group's founder, Liu Qiangdong, is still in the vortex of sexual assault.
The reporter Economic Observer Online noted that before the "Liu Qiangdong's sexual assault in the United States" case, Jingdong's stock price was $ 31.30, and the market value reached 45.3 billion US dollars. During the three-month period of development, rumors repeatedly caused Jingdong's stock price to fall. From the powder, Jingdong's stock price closed at 21.08 US dollars, and its market value evaporated nearly 14.8 billion US dollars (about 100 billion yuan).
Insiders analyzed that this case had no results until more than three months later, which had a very serious impact on Jingdong's share price and the development of JD. If the case is resolved earlier, it will have no results. Jingdong has such a big impact. It is worth investigating why the case was not closed more than three months ago.