JD.com jumps after saying its CEO won’t face rape-suspicion charges

JD.come CEO Liu was briefly attained in Minneapolis, Minnesota on suspicion of rape earlier this month.Aly Song/Reuters

• JD.com jumped 5% Wednesday after one of CEO Liu Qiangdong’s attorneys told Chinese media that she doesn’t think Liu will face charges over sexual-misconduct allegations.
• Shares were under pressure earlier this month after Liu was briefly detained in Minneapolis, Minnesota on suspicion of rape.
•  Watch JD.com trade in real time here.

JD.com jumped 5% Wednesday after one of CEO Liu Qiangdong’s attorneys told Chinese media that she doesn’t think Liu will face charges over the recent sexual-misconduct allegations filed against him.

“We don’t think prosecutors will bring charges because they will find that the charges are inconsistent with the evidence,” Jill Brisbois, an attorney for Liu, told China’s The Paper on Tuesday.

Shares of JD.com, the second-largest Chinese e-commerce site after Alibaba, were under pressure earlier this month after Liu was arrested on suspicion of rape in Minneapolis, Minnesota, where he was participating in a business administration PhD program at the University of Minnesota. He was released by local police, after 16 hours, without requiring bail, but remained under investigation. Liu has maintained his innocence.

“Once the investigation is over, evidence will be revealed to the public showing that he is not guilty,” Brisbois added.

Brisbois’ response came a day after Reuters published an investigation report on the case, citing messages the female victim sent to her friends the night of the alleged misconduct, saying Liu had forced her to have sex with him.

According to Reuters, sources said the victim, a 21-year-old University of Minnesota student, kept a bed sheet as evidence and went to a hospital the next day to have a sexual assault forensic test. But JD.com spokeswoman Loretta Chao said the information “doesn’t tell the full story.”

JD.com shares were down 40% this year.

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