Shein probed by US FTC, could face fines

NEW YORK ? Shein, the online fast-fashion retailer, said its US operations are under investigation by the US Federal Trade Commission and that it could face significant fines as a result, according to documents filed in connection with its planned Hong Kong IPO. Shein is cooperating with the probe, the Chinese-founded company said in the documents published by the Hong Kong stock exchange on Sunday. “The outcome of the investigation, whether in settlement or otherwise, may require us to make significant monetary payments that could have a material adverse effect on our financial condition and results of operations,” the company…