In a recent development, Alibaba Group (NYSE:BABA) has decided to settle a class-action lawsuit filed by its shareholders for $433.5 million. The lawsuit alleged that the company had made misleading statements about its exclusivity practices. What Happened: The e-commerce behemoth, based in China, denied all allegations of fault, liability, wrongdoing, or damages, reported The Wall Street Journal on Wednesday. The company stated in a regulatory filing that it opted for the settlement to evade further litigation costs and disruptions. The lawsuit was filed in the U.S. District Court in the Sout…