News Column

Alibaba...and the 40 Thieves? Hard Questions About the Chinese Internet Giant's Planned I.P.O.

July 14, 2014



WASHINGTON, July 14 -- The Center for Security Policy issued the following news release:

Against the backdrop of press reports indicating that an imminent initial public offering by the giant Chinese Internet provider Alibaba is receiving kid-glove treatment by U.S. government securities regulators - and a complete pass by those responsible for national security, the Center for Security Policy will convene a panel discussion to illuminate concerns about this transaction that demand close scrutiny.

Alibaba's proposal is expected to raise over $20 billion through the New York Stock Exchange, making it the largest initial public stock offering in U.S. history. The appetite for the financial windfall such a transaction will make possible has apparently induced official willful blindness to what a recent staff study by the U.S. China Economic and Security Review Commission concluded was an IPO that poses "major risks" for investors.

On Tuesday, 15 July, the Center will host a luncheon symposium at the National Press Club aimed at exposing the various risks for Americans associated with the Alibaba IPO with respect to: their investment in the company; the privacy rights and proprietary information of users of Alibaba's services; and the national security.

A panel of experts will address among other issues: Chinese intelligence operations; economic warfare; cyber espionage and other penetrations of the U.S. internet space; problems with the Alibaba IPO for U.S. securities law and procedures; and other topics bearing on U.S. national security.

WHO:

* Frank Gaffney, President and CEO of the Center for Security Policy, Moderator

* Michelle Van Cleave, Former U.S. National Counter-Intelligence Executive

* Kevin Freeman, Chartered Financial Analyst and Founder, National Security Investment Counselor Institute and author of Secret Weapon: How Economic Terrorism Brought Down the U.S. Stock Market and Why It can Happen Again and Game Plan: How to Protect Yourself from the Coming Cyber Economic Attack

* Fred Fleitz, Career CIA Analyst and former Professional Staff Member, House Intelligence Committee

* David Yerushalmi, Securities litigator and Co-founder and Senior Counsel of the American Freedom Law Center

WHERE:

National Press Club

Murrow Room

529 14th St NW, 13th Floor

Washington, D.C.

WHEN:

Tuesday, July 15, 2014, 12:00-1:30 pm

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Source: Targeted News Service


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