Lawsuit against JD's Liu may tarnish firm

The new lawsuit against Liu Qiangdong, the billionaire founder and CEO of Chinese e-commerce giant JD, and his company filed by a University of Minnesota student might further shake investors' confidence, and tarnish the image and reputation of the company, amid tougher competition from rivals such as Alibaba and Pinduoduo.

The Chinese student from University of Minnesota, who claimed she was raped last August by Liu, filed a civil lawsuit against him in Minneapolis on Tuesday, four months after prosecutors decided not to pursue a criminal case.

The lawsuit accused Liu and JD on six counts of false imprisonment, civil assault and battery, as well as sexual assault or battery, seeking damages in excess of $50,000, according to a report from Reuters.