The National Business Daily (NBD) announced late Wednesday that it would sue Qihoo 360 in defense of its recent report alleging that China's largest Internet security service provider was stealing user information.
The Shanghai-based newspaper said in a statement on its official Weibo that its report published February 26 disclosing Qihoo's infringement of user privacy was objective, and that the paper has strong evidence to support its opinion.
Qihoo said February 26 that it would sue the paper for slander and organized a media press conference two days later to accuse the paper of spreading false rumors.
The stock price of NASDAQ-listed Qihoo closed at $32.19 Wednesday, down 7.6 percent from the previous trading day.
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